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Read ArticleThe Private Consulate: Mixed-Use Sovereign HQ | Plaza District NYC
119 East 55th Street, New York, NY 10022 , Midtown East / Plaza District , Manhattan , New York
$14,500,000.00
For Sale 💰
Mixed-Use 🏘️🏬
MENA Verified
Investment Grade
Description
The Private Consulate: A Sovereign Headquarters.
Ideally situated in the heart of the Plaza District, 119 East 55th Street is not merely a home; it is a legacy asset offering total autonomy. Built in 1868 by James W. Pirsson, this 19-foot-wide limestone townhouse offers the ultimate “Live/Work” solution for the Global Principal.
The Asset Class: Unlike a penthouse, you own the land. Unlike a condo, you have no board approval.
The Configuration: A garden-level professional suite (ideal for security detail or reception), a grand parlor floor for diplomatic entertaining, and a private triplex residence above.
The Lifestyle: 11-foot ceilings, 5 wood-burning fireplaces, and a private south-facing garden offering a zen sanctuary steps from Fifth Avenue.
Perfect for a GCC Family Office seeking a US footprint that combines prestige, privacy, and utility.
Property Details
Property ID
DLRE-119E55-HQ
Properties
Mixed-Use 🏘️🏬
Bedrooms
4
Bathrooms
6.5
Size (Area)
-
Land Area
-
Year Built
1868
Floors
-
Parking
0
Furnishing
Unfurnished
View
City View
Ceiling Height
-
Features & Finishes
Investment Intelligence
Cap Rate
2.90%
NOI (Current)
420,000.00
Occupancy
100.00%
Cash on Cash
5.20%
Investment Thesis
The Sovereign Control Premium
Acquire a rare, fee-simple townhouse in the heart of the Plaza District, offering total autonomy from co-op board oversight. This asset serves a dual purpose: a high-visibility corporate headquarters and a private executive residence.
Core Investment Drivers:
- Irreplaceable Land Basis: 19-foot wide limestone structure on a Manhattan block zoned for mixed-use.
- Diplomatic Grade Security: Separate service entrances and configuration allow for high-level security protocols suitable for Heads of State or UHNW Principals.
- Currency Hedge: USD-denominated hard asset in the world’s most liquid real estate market, acting as a hedge against global currency volatility.
Value Add Strategy
Strategic Repositioning Plan
The asset is currently configured as a single-family residence. The highest and best use (HBU) is a Mixed-Use Corporate Consulate.
Execution Roadmap:
- Phase 1 (Garden/Parlor): Convert lower floors into a reception gallery and executive boardrooms.
- Phase 2 (Upper Triplex): Modernize the residential portion for short-term executive stays or diplomatic housing.
- Phase 3 (Rooftop): Activate the roof deck for private client entertaining (views of Midtown skyline).
- Tax Strategy: By classifying >50% as commercial, the owner can utilize significant depreciation schedules not available to pure residential assets.
Location & Proximity
Nearby Landmarks
Central Park, The Plaza Hotel, BlackRock HQ, United Nations Headquarters
Amenities & Features
Hardwood Floors
High Ceilings
Central A/C
Garden
Fireplace
Staff Quarters
Security System
Private Entrance
Fee Simple Ownership (Own the Land)
Mixed-Use Zoning (Office + Residence)
Private Garden Sanctuary
No Co-op Board Approval Required
11-Foot Ceilings & 5 Fireplaces
Prime Plaza District Location
Location on Map
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Financial Details
Ownership
Fee Simple / Freehold
Legal Status
Clear Title / Historic Landmark
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