209 East 31st Street
New York, NY 10016

Cross street:Third Avenue

Building

Type:Townhouse
Era:Post-war
Floors:4

Property

Ownership: Mixed Use
Rooms: 13
Bedrooms: 3 BR
Bathrooms: 2.5
Pets: Pets Unknown

Financials

Price: $8,900,000
505 Park Ave, New York, NY 10022
Listing Courtesy of Christies International Real Estate Group LLC

Description

An incredible opportunity!

This large Kip's Bay townhouse features a two-unit mixed-use layout, with commercial offices occupying the lower two floors and a residential duplex above.

The property generates a gross rent of 450,000, secured by a corporate guarantee for the office lease. It is turnkey and fully leased.

Unit #1 spans two levels plus a basement and is occupied by a financial services company. The annual rent is 300,000, backed by a corporate guarantee from a publicly traded NYSE company. The lease is for 5 years, with a 5-year option to renew at 330,000 per year.

Layout:

  • The basement is utilized for storage and building mechanicals.
  • The Garden Level features an entrance lobby, office, kitchen, conference room, two half bathrooms, and a backyard.
  • The Parlor Level includes the 'Havana Room' with coffered ceilings, an onyx bar, a drop-down theater screen, and a projection system, along with an office, bullpen, and half bath.

The top two floors comprise a duplex where the seller paying 150,000 annually plus real estate taxes for 5 years. This level includes a spacious living room, dining room, kitchen, office, bathroom, and terrace on the third floor, with three bedrooms and two bathrooms on the upper level.

The seller is open to vacating the premises if the purchaser prefers.

Amenities

  • Terrace
  • Washer Dryer Hookups
  • Voice Intercom
  • Walk-up

Neighborhood

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An incredible opportunity !


OLR IDX

RLS Data display by Nest Seekers LLC.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.