410 E 38th St, New York, NY 10016

Delivered vacant

Freestanding elevatored building with the interior demolished, ready for renovation

Four blocks south of the United Nations

Four blocks north of NYU Medical Center and centered along Manhattan’s renowned “Medical Mile”

Directly across from one of Manhattan’s largest and most transformative development sites

Direct access to the FDR Highway, and nearby the Queens-Midtown Tunnel, Queensboro Bridge and the 34th Street Ferry Terminal

Short walk to Grand Central Terminal for subway and commuter rail access

Parking garage easily accessible directly next door

Perfect for: Medical practice or diagnostic center, clinical research or outpatient facility, charter or specialty school, foreign government mission or consulate, professional office headquarters, community services or nonprofit hub

Fully tax exempt for qualifying 501(c)(3)s, nonprofits, hospitals, schools, and government entities

The reinstated 100% bonus depreciation under the One Big Beautiful Bill allows qualifying buyers to immediately expense the full cost of capital improvements in the first year, rather than depreciating them over decades. This applies to most interior renovations, mechanical/electrical/HVAC upgrades, and key building systems, dramatically reducing taxable income and boosting cash flow from day one