RIPCO Real Estate has been selected to handle the sale of investment sales property 224 East 48th Street in Midtown East, Manhattan, by seller 224 East 48th Street LLC. The asking price is $15 million. RIPCO’s Stephen R. Preuss and Kevin Louie have the listing. Spanning 15,042 square feet, 224 East 48th Street is a six-story elevatored apartment building. The property presents over 80% free-market units. The building is located near United Nations Headquarters. 

“224 East 48th Street’s large amount of free-market units offers prospective owners with the flexibility to convert the asset into alternative uses,” said Preuss. “The property has the potential to be converted into condominiums, corporate, mission or furnished housing.”