Listing Courtesy of Blu Realty Group
$4,250,000
Est. payment /mo
2 BD
2 BA
3,120 SqFt
Active
250 E 32nd Street Manhattan, NY 10016
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UPDATED:
12/12/2024 09:38 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,120 sqft
Price per Sqft $1,362
Subdivision Kips Bay
MLS Listing ID RLS11024961
Style Prewar,Walk-Up
Bedrooms 2
Half Baths 2
HOA Y/N No
Year Built 1920
Annual Tax Amount $40,000
Property Description
Seller is Very Motivated
Offered at $4,250,000
Welcome to 250 East 32nd Street, a meticulously maintained, mixed-use, four-story building in the heart of Kips Bay. With a full gut renovation completed approximately 10 years ago, this property combines modern infrastructure with timeless appeal, making it an ideal opportunity for both investors and owner-users seeking a strategic foothold in a thriving Manhattan submarket.
Property Overview:
Configuration: 3 units total
Ground Floor & Lower Level: Fully equipped dental office
Second Floor: Commercial/office studio space (zoned commercial)
Top Two Floors: Spacious, upscale duplex penthouse apartment with private roof deck
Current Tenancies & Lease Terms:
100% Occupied: Immediate income stream
Penthouse Apartment:
Rent: $6,495/month
Lease Expiration: November 1, 2025
Recent gut renovation, in-unit washer/dryers, hardwood floors, and a flexible one-to-two bedroom layout
Private 620 sq. ft. roof deck
Commercial Tenant (Dental Office):
Rent: $11,000/month plus 40% of real estate taxes (currently $1,333/month)
Fully plumbed treatment rooms, lab space, pump and vacuum systems, and X-ray-ready areas, making it turnkey for medical/dental use or adaptable for other professional services
Building Highlights:
Solid Investment Potential: Stable income from established tenants, with the possibility of future rental increases or reconfiguration to maximize value.
Quality Infrastructure: Gut renovated approximately 10 years ago, ensuring modern mechanicals, updated plumbing/electrical systems, and reduced maintenance costs.
Mixed-Use Flexibility: Ideal for an investor seeking diverse revenue streams or an owner-user looking to occupy the commercial space or the penthouse while collecting income from the other units.
Location & Connectivity:
Prime Kips Bay Setting: Surrounded by medical centers such as NYU Langone, as well as popular retailers including Trader Joe's and Duane Reade.
Excellent Transit: Near the 6 train at 33rd Street and multiple bus lines, making commutes and client access seamless.
Neighborhood Growth: Kips Bay's ongoing residential and commercial development supports strong demand, occupancy stability, and long-term appreciation.
A Unique Opportunity:
250 East 32nd Street stands ready for an investor or owner-occupant who appreciates a turnkey asset, robust existing income streams, and the flexibility to adapt the building for future growth. With established leases, a prime location, and quality renovations already in place, this property is poised to deliver steady returns and value appreciation for years to come.
For further information, or to schedule a private viewing, please reach out today.
Offered at $4,250,000
Welcome to 250 East 32nd Street, a meticulously maintained, mixed-use, four-story building in the heart of Kips Bay. With a full gut renovation completed approximately 10 years ago, this property combines modern infrastructure with timeless appeal, making it an ideal opportunity for both investors and owner-users seeking a strategic foothold in a thriving Manhattan submarket.
Property Overview:
Configuration: 3 units total
Ground Floor & Lower Level: Fully equipped dental office
Second Floor: Commercial/office studio space (zoned commercial)
Top Two Floors: Spacious, upscale duplex penthouse apartment with private roof deck
Current Tenancies & Lease Terms:
100% Occupied: Immediate income stream
Penthouse Apartment:
Rent: $6,495/month
Lease Expiration: November 1, 2025
Recent gut renovation, in-unit washer/dryers, hardwood floors, and a flexible one-to-two bedroom layout
Private 620 sq. ft. roof deck
Commercial Tenant (Dental Office):
Rent: $11,000/month plus 40% of real estate taxes (currently $1,333/month)
Fully plumbed treatment rooms, lab space, pump and vacuum systems, and X-ray-ready areas, making it turnkey for medical/dental use or adaptable for other professional services
Building Highlights:
Solid Investment Potential: Stable income from established tenants, with the possibility of future rental increases or reconfiguration to maximize value.
Quality Infrastructure: Gut renovated approximately 10 years ago, ensuring modern mechanicals, updated plumbing/electrical systems, and reduced maintenance costs.
Mixed-Use Flexibility: Ideal for an investor seeking diverse revenue streams or an owner-user looking to occupy the commercial space or the penthouse while collecting income from the other units.
Location & Connectivity:
Prime Kips Bay Setting: Surrounded by medical centers such as NYU Langone, as well as popular retailers including Trader Joe's and Duane Reade.
Excellent Transit: Near the 6 train at 33rd Street and multiple bus lines, making commutes and client access seamless.
Neighborhood Growth: Kips Bay's ongoing residential and commercial development supports strong demand, occupancy stability, and long-term appreciation.
A Unique Opportunity:
250 East 32nd Street stands ready for an investor or owner-occupant who appreciates a turnkey asset, robust existing income streams, and the flexibility to adapt the building for future growth. With established leases, a prime location, and quality renovations already in place, this property is poised to deliver steady returns and value appreciation for years to come.
For further information, or to schedule a private viewing, please reach out today.
Location
State NY
County Newyork
Interior
Equipment Intercom
Fireplace No
Laundry See Remarks
Exterior
Exterior Feature Building Roof Deck
Porch Rooftop
Private Pool No
Building
Story 4
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $3, 333
Pets Allowed Building Yes, Yes
RLS Data display by Real Broker LLC