244 E 53rd St 6,358 SF 21% Leased Retail Building New York, NY 10022 $6,750,000 ($1,061.65/SF) 5.40% Cap Rate

Meridian Investment Sales is pleased to present for sale 244 East 53rd Street (the “Property”), a five-story, free-market, mixed-use asset located in the heart of Midtown East between Second and Third Avenues.
The Property underwent a complete gut renovation in 2019, including the addition of a fifth floor, all-new interiors, and the replacement of all major building systems, including electrical, plumbing, and HVAC. The retail component occupies the ground floor and second level and features two separate entrances, providing flexibility for either a single tenant or two retail tenants. The luxury residential units occupy the third through fifth floors, and were finished with condominium-quality materials, offering abundant natural light, high ceilings, and private outdoor space.
Both the retail and residential spaces are separately metered and feature independently controlled HVAC systems, with tenants responsible for their own heating, cooling, and electric costs, resulting in a highly efficient, low-expense ownership structure. All restaurant furniture, fixtures, and equipment (FF&E) are included in the sale, providing additional value for an owner-user or investor.
Situated a few blocks east of the Plaza District, Rockefeller Center, and the southern entrance to Central Park, the Property benefits from strong residential demand driven by its proximity to premier office towers, luxury retail corridors, world-class hospitality destinations, and the United Nations. This high-traffic area is known as Midtown East's "restaurant row" and is an ideal location for a user/restaurateur. Notable nearby eateries include OBAO Midtown, Kati Roll Company, La Gioconda, Tomi Jazz, Café Luce, and Wildcard Bar.
244 East 53rd Street is conveniently served by multiple subway lines, including the E and M trains at Lexington Avenue–53rd Street, the 4, 5, and 6 trains at 51st Street, and the N, R, and W trains at 59th Street/Lexington Avenue, offering seamless connectivity throughout Manhattan and the outer boroughs.