- For Sale $5,250,000
- Property Type Unassigned
- Property Size 5,200 SF
- Lot Size 0.05 Acre
- Building Class C3
- Year Built 1915
- Date Updated Apr 26, 2024
The building is approximately 5,200± SF and has been exceptionally well-maintained. The property has been in the hands of current ownership for more than 40 years. The residential units consist of four floor-through 2-bed/ 1-bath free market apartments. The ground floor apartment features a rear private garden apartment.
These large floor-though apartments offer an excellent value-add opportunity to reconfigure the layouts and add bedrooms that will maximize rents due to their large size of approximately 1,105 net square feet and high demand for shared apartments in this neighborhood.
The building is 75% occupied offering investors a cash flowing turnkey asset with future upside on lease renewals. The property benefits from its tax class protected 2A status where NYC cannot raise the taxes each year by more than 8% from the year prior, or 30% over five years. The property is zoned R8B and has approximately 6,690 square feet of unused air-rights.
131 East 29th Street is situated between Lexington and Third Avenues in the Kips Bay Neighborhood. Nearby attractions and neighborhood staples include Madison Square Park, Trader Joe’s, Whole Foods, Murray Hill Mark
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Contacts
John Ciraulo
Cushman & Wakefield
(212) 660-7700
Craig Waggner
Cushman & Wakefield
(212) 660-7744
Jack Stephen
Cushman & Wakefield
Location
Getting Around
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Walk Score ®
Walker's Paradise (100) -
Transit Score ®
Rider's Paradise (100) -
Bike Score ®
Biker's Paradise (90)
- City New York, NY
- Neighborhood Kips Bay
- Zip Code 10016
- Market Manhattan
Points of Interest
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28th Street
0.14 miles
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33rd Street
0.22 miles
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23rd Street
0.33 miles
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Broadway & 23rd Street at Northeast Corner
0.41 miles
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Broadway & 23rd Street at Southeast Corner
0.43 miles
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34th Street–Herald Square
0.55 miles
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34th Street & Broadway at Northwest Corner
0.59 miles
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23rd Street
0.59 miles
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42nd Street–Grand Central
0.63 miles
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Grand Central 42nd Street entrance
0.66 miles
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ChargePoint
0.08 miles
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ChargePoint
0.33 miles
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ChargePoint
0.43 miles
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ChargePoint
0.53 miles
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BP
0.67 miles
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Bus Charging Station
0.70 miles
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Blink
0.81 miles
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Tesla Supercharger
0.87 miles
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ChargePoint
0.96 miles
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ChargePoint
0.96 miles
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Red Ball Garage
0.08 miles
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Select Garages
0.28 miles
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SP+
0.42 miles
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City Parking
0.45 miles
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NYU Langone Parking Lot D
0.50 miles
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Icon Parking
0.52 miles
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Waterside Plaza Parking
0.56 miles
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icon 24hr Parking
0.58 miles
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Icon Parking
0.58 miles
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Herald Square Shopping Court
0.65 miles
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Lallisse
0.05 miles
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The Kustory
0.05 miles
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Curry in a Hurry
0.06 miles
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Home Base
0.06 miles
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Dunkin'
0.06 miles
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Chote Nawab
0.07 miles
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Chennai Garden
0.07 miles
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Haandi
0.08 miles
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Jaiya
0.08 miles
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Anjappar
0.08 miles
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Lexington Avenue Campus Touro College
0.06 miles
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Public School 14
0.16 miles
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Rebecca School
0.16 miles
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Public School 116
0.21 miles
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Norman Thomas High School
0.21 miles
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American Academy of Dramatic Arts
0.23 miles
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Baruch College Newman Vertical Campus
0.23 miles
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Churchill School and Center
0.24 miles
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Stern College Yeshiva University
0.26 miles
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School of Visual Arts
0.31 miles
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Alpha Bet Preschool of Murray Hill
0.01 miles
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Push My Swing
0.08 miles
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NY Kids Club
0.15 miles
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The Accorn School
0.33 miles
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Wee Ones Club
0.33 miles
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St Vartan Play Group Preschool
0.45 miles
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Everbrook Academy
0.46 miles
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Gymboree
0.48 miles
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Samuel J. Heyman Early Childhood Center
0.52 miles
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14th Street Y - Childcare
0.82 miles
