Description

Prime Commercial Condo Investment - The Diplomat at 210 East 47th Street

Discover an exceptional investment opportunity in Midtown East's coveted Turtle Bay neighborhood. Located in The Diplomat, a distinguished 13-story condominium tower built in 1957, this mid-block building offers full-time doorman service, on-site laundry, elevator access, and a gracious marble lobby-hallmarks of elevated city living. The property enjoys unbeatable proximity to Grand Central Terminal and multiple subway lines (4, 5, 6, 7, E, M), along with a host of shops, cafes, supermarkets, and cultural attractions-making it a top-tier urban medical office destination.

This offering includes two adjacent turnkey medical suites: Unit 1AP, currently occupied by a general practitioner under lease through the next year, generating over $11,000/month in revenue; and Unit 1BP, fully configured as a dermatologist's office, with all equipment available and poised to rent at $10,000+/month-or to serve as a turnkey office for an end user. Each unit also comes with its own dedicated storage/basement space of approximately 500 square feet, providing invaluable flexibility for records, equipment, or staff use. The combined income and potential upside more than offset expenses, further enhanced by the building's extremely low carrying costs.

Investors, practitioners, or owner-occupiers will appreciate the convenience of assuming an income-producing asset in a well-run building with a strong financial profile. The location not only assures steady tenant demand and operational continuity but also offers unmatched access to public transit and the Midtown East commercial-residential ecosystem, making it an ideal setting for medical or professional services. Whether you're seeking stable returns or envisioning a high-profile office footprint, this property promises both financial performance and prestige.

There is currently an assessment in place for 24 months, beginning July 2025, of $311.05 for Unit 1AP and $356.55 for Unit 1BP.