Enormous alcove studio with lots of quiet privacy and lots of sun from 18 feet of south-facing windows. The updated kitchen has full-size appliances, including a 24" dishwasher, a 30" stove and microwave oven, and a 33"(W) by 69"(H) by 27"(D) refrigerator. The bathroom has been reconfigured with a large walk-in shower, and is renovated in an attractive white tile and high-end polished chrome fixtures. There is a double-wide closet next to the bathroom, and two additional closets in the foyer and by the kitchen. UNLIMITED SUBLETTING IS ALLOWED AFTER ONE YEAR OF OWNERSHIP. There is NO flip tax, and the storage/bike room in the basement is free for shareholders. 240 East 55th Street is a well-managed co-op located off Second Avenue nestled between residential Sutton Place and the East Midtown business district on Third Avenue. Residents enjoy the convenience and luxury of great restaurants, supermarkets, fitness centers, and specialty stores, as well as close proximity to several subway and bus lines. Central Park and the new East River Promenade is a short bike ride or jog away.