51 Market St, New York, NY 10002

Built in 1825, located between Madison and Monroe Streets in the heart of the Two Bridges neighborhood. Situated in a R7-2 zoning district. The building spans 7,675 SF across 5 single family apartments, one on each floor. The building enjoys a 1,040 SF courtyard and the garden level has the boiler room and mechanicals and an additional lower-level basement providing abundant storage space. In addition, there are approximately 684 SF of air rights that appear to be developable on the rooftop level or for general sale. This is an excellent opportunity for an investor to acquire a 100% free market property delivered vacant in a developing neighborhood, as future ownership has the potential to create significant value by renovating the existing floor-through apartments boasting soaring celling heights (12’4” on parlor level) or maybe create two 1-BR loft units per floor (subject to architectural review), add a connecting rooftop studio and a private roof deck for the Penthouse apartment, to take advantage of the available air rights. Alternatively, an ambitious visionary amateur of New York history may want to use this canvas and convert back this building into a unique and historic single-family masterpiece, as it was at the end of the 19th century.