131 East 29th Street
New York, NY 10016

Cross street:Lexington Avenue

Building

Type:Townhouse
Era:Post-war
Floors:4

Property

Ownership: Rental Property
Rooms: 15
Bedrooms: Studio
Pets: Pets Unknown

Financials

Price:$4,450,000
505 Park Ave, New York, NY 10022
Listing Courtesy of Serhant LLC

Description

Discover an exceptional investment opportunity at 131 East 29th Street, a pristine 5,200-square-foot, 4-unit apartment building in the heart of Manhattan's Kips Bay neighborhood. This well-maintained 20-foot-wide property sits on a generous 98.75-foot lot between Lexington and Third Avenues. Having been under the same ownership for over 40 years, this building presents an outstanding opportunity for investors seeking a turnkey asset with significant upside potential. The property will be delivered vacant and benefits from protected tax class 2A status, ensuring predictable expenses with annual tax increases capped at 8 percent year-over-year or 30 percent over five years.

Situated in the heart of Kips Bay, this property offers residents easy access to numerous amenities including Madison Square Park, Trader Joe's, Whole Foods, Murray Hill Market, and diverse dining and entertainment options. Excellent transportation access with the 6 train at 28th Street, B/D/F/M at Herald Square, and R/W trains at 28th Street and Broadway. The property's prime location, protected tax status, and flexible layout make it an exceptional investment opportunity in one of Manhattan's most desirable neighborhoods.

Amenities

Laundry Room;

  • Laundry Room
  • Voice Intercom
  • Walk-up

Neighborhood

More listings:

Discover an exceptional investment opportunity at 131 East 29th Street, a pristine 5, 200 square foot, 4 unit apartment building in the heart of Manhattan's Kips Bay neighborhood.


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.