330 & 334 East 59th Street 2 Properties Offered at $11,250,000 in New York, NY

Cushman & Wakefield has been exclusively retained to offer a highly rare and compelling opportunity to acquire the 100% fee-simple interest in 330 & 334 East 59th Street (the “Properties”), two premier assets located in the heart of Midtown East, Manhattan.
The Properties comprise two non-contiguous buildings totaling 37,864 gross square feet, including a 34,500-square-foot office building at 330 East 59th Street and an adjacent 3,364-square-foot multifamily building at 334 East 59th Street. Remarkably, the Properties have not been offered for sale in over 120 years, underscoring the exceptional scarcity of
this offering. During this extended ownership period, the properties have been continuously master-leased by the same tenant; this lease is scheduled to expire at the end of 2026, presenting investors with near-term cash flow and future optionality. The multifamily building is 100% free-market and vacant.
The Properties offer investors multiple, clearly defined value-creation pathways. Strategies include maintaining the assets as cash-flowing office and residential investments in a core Midtown East location, converting the office building through New York City’s 467-m tax abatement program, or pursuing a full redevelopment into rental apartments under the
485-x tax incentive framework or residential condominiums, subject to approvals.
Situated in the highly sought-after Midtown East submarket, the Properties benefit from being immediately adjacent to the Queensboro Bridge, the Roosevelt Island Tramway and the 4, 5 & 6, as well as the N, R & W subway lines.
The Properties are located along Midtown East’s design-oriented corridor, surrounded by high-end home furnishing and design showrooms, luxury residential towers, and a full complement of neighborhood amenities. Nearby anchors include Trader Joe’s, Whole Food’s Market and Bloomingdale’s, reinforcing the area’s appeal as a highly livable and established mixed-use neighborhood.