$20,500,000
Updated 6 years ago
Off Market

230 East 27th Street

Kips Bay, Manhattan | Third Ave & Second Ave

22,000 Square FeetRental Property

$20,500,000
floors / apts6 / 25
Lot Size45'x98'9"
Built Size45'x90'
ZoneR8B
Building TypeLow-Rise
RE Taxes$200,930
Price Per SF
$932

Outdoor space and views

  • Backyard
  • Garden
  • Patio
  • Terrace

Building Amenities

  • Voice Intercom
  • Outdoor Parking
  • Stoop Entry

Property Description for 230 East 27th Street

A 6-story, 45’ wide walk-up apartment building located on the south side of East 27th Street between 2nd and 3rd Avenues. The building consists of 25 residential units, of which 19 are FM, 3 are RS, and 3 are RC. All of the units are 3 BRs, with the exception of an expansive, ground floor 5 BR unit featuring a private terrace and patio located on the garden level. A majority of the residences were recently gut renovated and feature high-end finishings including marble countertops, stainless steel appliances, hardwood floors, and high end cabinetry. The building is 100% occupied with an average in-place rent of $3,433 per month or $56/SF, which is below market. It is located within 3 blocks of the East 28th Street 6 train stop. This represents an excellent high cash flowing asset with long term upside.

Listing History for 230 East 27th Street

Now
11/18/2015
POM by James P. Nelson
Cushman & Wakefield
03/24/2015
$20,500,000
Initial Price by James P. Nelson
Cushman & Wakefield

Building Details for 230 East 27th Street

OwnershipRental Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1940
Floors/Apts6/25
Learn More About the Building

Transit and Citi Bike

Subway

28 St
0.24 miles
23 St
0.32 miles
33 St
0.37 miles
23 St
0.46 miles

Citi Bike

E 25 St & 2 Ave
0.13 miles
2 Ave & E 29 St
0.14 miles

Contact Agents

Contact Agents

James Nelson
Cushman & Wakefield
John Ciraulo
Cushman & Wakefield
David Shalom
Cushman & Wakefield

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: 58115TH