61 Lexington Ave APT 1C, New York, NY 10010

This one-of-a-kind opportunity is an affordable, investor-friendly commercial condo in prime Gramercy Park. This state-of-the-art junior 1-bedroom can be used as a residence, live/work space, or a storefront, and offers very low monthlies-$376.97 carrying charges; $486 taxes-and permission to rent from day one with no board approval. This premier building is set at the vibrant crossroads of Kips Bay and Gramercy Park. It is a cooperative building from the third floor and above, so this unit is one of only a few live/work commercial condos. There are two ways of egress, with separate entry and exit to 25th Street-a lively pedestrian walkway closed here to vehicular traffic-plus additional access from the main building. There is a sprinkler installed, and the unit currently has a market-rate tenant paying $2,400/month; lease expires January 1, 2016.All the attractions of Midtown Manhattan living are within walking distance of this pet-friendly elevator building. The open rental policy permits short-term rentals without board approval; pieds-a-terre, co-purchasers and gifting are allowed. Madison Square Park is just a block away, along with many of the city's most acclaimed restaurants, and the 6 train is a short stroll from your front door.