$10,750,000
Updated 11 years ago
Off Market

225 East 31st Street

Kips Bay, Manhattan | Third Ave & Second Ave

11,850 Square FeetMixed Use

$10,750,000
floors / apts4 / 2
Lot Size33'x98'9"
Built Size33'x50'
Building TypeLow-Rise
RE Taxes$25,697
Price Per SF
$907

Building Amenities

  • Voice Intercom
  • Garage
  • Roof Deck

Property Description for 225 East 31st Street

> 33-foot wide four-story plus finished basement mixed-use building for live/work or as in investment. > Built 98.9 foot on the first and finished basement with central air conditioning, full bath and a separate entrance. > Surrounded by light on 3 sides. > Almost 12,000 square feet measured from exterior walls. > Green-housed and terraced 3 to 4 bedroom apartment for live/work on 3rd floor. > Lovely 2 bedroom, 2 bathroom residential apartment with built-ins and 3 fireplaces on 4th floor. > Residential 4th floor apartment can also be used with 3rd floor as a sensational spacious owner's duplex with terrace and garage and possible roof garden or separately as 2 units. > Exciting High-tech office space on the 1st and 2nd floors with charming sunlit offices. Central air-conditioning. Movable skylight. > Monthly Rents for the 3 units have ranged from $5,000 for 2 bedroom, 2 bathroom to $15,500 for the first and second floors (about 5,000 SF) with garage and 22 FT ceiling, $6,000 for the 3-4 bedroom terraced 3rd floor and about $3,000 for the basement (when combined with the residential apartments). > Income was $264,000 per year, but can now be up to $360,000 with affordable enhancements. > All apartments/ spaces will be delivered vaacnt with the exception of the top floor 2-bedroom, 2-bath apartment witha non-regulated lease at $4000/month until 4/30/07. > New oil burner in 2004.

Listing History for 225 East 31st Street

Now
04/23/2008
POM by Roberta Russell
Roberta Russell, LREB
01/24/2008
Price Increase by Roberta Russell
Roberta Russell, LREB

Building Details for 225 East 31st Street

OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Floors/Apts4/2
Learn More About the Building

Transit and Citi Bike

Subway

33 St
0.22 miles
28 St
0.28 miles
23 St
0.48 miles

Citi Bike

E 31 St & 3 Ave
0.03 miles
2 Ave & E 31 St
0.12 miles

Ferry

East 34th Street
0.44 miles

Contact Agent

Contact Agent

Roberta Russell
Roberta Russell, LREB

Kips Bay | Manhattan

Quick Profile

If you take a walk through Kips Bay, which is loosely defined as the area between 23rd street and 34th street and the East River to almost Lexington, you’ll quickly learn it's a hodgepodge of sorts and not as well defined as other neighborhoods in New York City. Some New Yorkers say Kips Bay has an identity crisis because 1st, 2nd, and 3rd avenues are distinctly different from one another as you traverse them. Despite the perceived lack of neighborhood vibe there are others that appreciate its affordability and convenience.  

First Avenue is dominated by hospitals and hospital buildings such as NYU Medical Center and Bellevue Hospital to name a few. Second Avenue is a mosaic of convenience stores, fast food joints and nondescript brick buildings. Third Avenue is saturated with small bars and gastropubs and the twenty somethings that patronize them. 

No judgement against Kips Bay here. It’s a great neighborhood that is just as much a part of New York City as any other neighborhood. Kips Bay It’s bordered by Murray Hill to the North, Stuyvesant Town and Gramercy Park to the South, and Rose Hill to the West. The neighborhood is partly defined by newer high-rise apartments, brick rowhouses, and former tenement buildings. 

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. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 22833TH