58 E. Seventh St. between First Avenue and Second Avenue recently hit the market. The listing at Eastern Consolidated mentions that this is a "potential townhouse conversion."
The Property is a five-story-over-full-basement, circa 1900, walk up apartment building containing ±6,792 square feet of above-grade building area divided into (5) five apartments. Each apartment contains approximately 1,300 square feet and has 3 bedrooms, a spacious eat-in kitchen area, a living room and one bathroom.
There's certainly precedent for townhouse conversion on this very block... just a few numbers to the east at No. 64.
64 E. Seventh St. was sold as a single-family townhouse several years ago... and gut rehabbed into a luxury, 13-room mansion. It seems likely that history will repeat itself on the block. (Read this post at Jeremiah's Vanishing New York for more on the fascinating past of No. 64.)