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111 East 56th St. 1406, New York, NY 10022

$1,500,000
Active Listing
Listing Details:
$1,500,000 Price
Co-op Property Type
Midtown Central Neighborhood
2 Beds
2 Baths
1,500 Approx. Sq. Ft.
$6,822 Maint/CC
Key Features:
Doorman
Prewar
Gym
Elevator
Garage
Laundry
Allows Pets
Storage
Description:

Investment, crash pad, second home? What about all of the above?

This is a once-in-a-lifetime opportunity to own a private property in the The Lombardy. Before we discuss the value proposition, which is easier to manage then an Airbnb, and more lucrative, let us present the property.

Originally one unit, the owners have created two distinct suites - marketed within the Hotel Pool as 1406 and 1415, each which is large, elegant and bright. Originally almost 1,500 square feet, the new units are split with a massive one bedroom executive suite with four windows.

The studio is equally grand, with two windows. The One bedroom allows you to entertain, with a dining room table, kitchenette, and space for a large entertainment section. There are luxurious wide plank oak floors, recessed lights, and additional storage throughout. Absolute black granite countertops with solid oak cabinets compliment the design.

The Studio is massive, and also has the recessed lighting and wide plank oak floors.

Each of your new bathrooms is a luxurious five piece bathroom with double vanities and walk-in shower stalls and rain showers. Now, let's talk money: the pro-forma nightly rental price of the Studio is $343. The pro-forma on the One Bed is $443. The net revenue, nightly to the shareholder is between 49% - 62% to the shareholder. To hear more, please reach out. Big picture - you can use one residence, both residences, or neither any night, any time. When you aren't using the property, the Lombardy will rent it out. East 56th St is a world class location for a pied-a-terre with new developments like the Waldorf Astoria and Mandarin Oriental launching soon. Four blocks from Central Park, minutes from the train, and in the heart of the Big Apple.

Listing courtesy of Douglas Elliman Real Estate

Discuss this property with a Core agent:

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