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.
According to New York City records, the median price for an apartment in Manhattan in the month of January was $1,200,000. The price represents an increase of 11.3% from last year’s median price of $1,077,500. The number of sales increased from 801 to 1,056 representing a year-over-year increase of 31.8%. What exactly does $1.2 millio...
Find home. Discover happiness.
Kevin Geloso is founder and president of KG Properties of New York, a full-service real estate boutique brokerage specializing in residential sales, rentals and furnished rentals; individual condominium and apartment property management throughout the New York area. Kevin brings a unique hands-on approach to KG Properties’ fast-growing client rostrum of US and international customers, reflecting a customer service philosophy he initially cultivated as a senior accountant at Deloitte and Touche.
\r\n\r\nKevin has led KG Properties to consistent double-digit annual growth since it’s founding in 2006. He attributes the firm’s ongoing success and expanding client base to its credo of “We are with you BEFORE, DURING and AFTER the sale.” More than a slogan, the tagline underscores Kevin’s personal commitment to a full-service approach that manages the client’s experience at each distinct phase of the real estate transaction process – including after the transaction, when many brokers tend to effectively end the relationship. The KG Properties philosophy is to view the relationship as simply entering a new, crucial phase that can include an array of building-management responsibilities, including staff supervision, board communications, payment collections and numerous other tasks. Similarly, Kevin maintains relationships with renters and buyers to better enable him to assist their next real estate transaction.
\r\n\r\nSince founding KG Properties, Kevin had led the firm to over five hundred million in New York condo, co-ops and multi-family real estate transactions, reflecting nearly 600 individual transactions for both rentals and sales. Today, KG Properties also manages ten buildings and 50 individual units throughout the five boroughs of New York City totaling a value of nearly two hundred million dollars.
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to New York City records, the median price for an apartment in Manhattan in the month of January was $1,200,000. The price represents an increase of 11.3% from last year’s median price of $1,077,500. The number of sales increased from 801 to 1,056 representing a year-over-year increase of 31.8%.
\n\n\n\nWhat exactly does $1.2 million get you in Manhattan? Let’s take a closer look.
\n\n\n\nApartment 5B at 340 East 64th Street, aka The St. Tropez, is a sunny two-bedroom, two-bath apartment with well proportioned rooms. The 1,167 square foot home offers a grand living room (13’11” x 25’2”) and an adjoining dining foyer (7’11” x14’8”).
\n\n\n\nA spacious primary bedroom (11’11” x 17’7”) presents a walk-in closet and a recently renovated en-suite bath with a stall shower. The second bedroom adjoins the first.
\n\n\n\nThe post-war property commands the entire blockfront, stretching between East 63rd Street to East 64th Street along First Avenue. There is a porte-a-cochere that runs the full length of the property.
\n\n\n\nThe St. Tropez opened in 1965 as the first residential condominium in New York City. The minimal looking dark brick building rises 35-floors and contains 295 apartments ranging in size from one-to-three-bedrooms.
\n\n\n\nThis full service building offers a number of amenities including a seasonal rooftop pool, residential lounge with catering kitchen, fitness room, playroom and a parking garage. There is an on-site management office as well.
\n\n\n\nApartment 5-B at 340 East 64th Street was introduced to the market in April 2021 for $1.39 million. The closed price of $1.2 million represents a 13.7% price drop from the original ask. The per square foot price of the sale was $1,028.
\n\n\n\nThe listing was represented by Julie Effron of Corcoran. Please visit Linecity for more details.
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