$8,400,000
Updated 4 years ago
Off Market

134 East 28th Street

Kips Bay, Manhattan | Lexington Ave & Third Ave

6,775 Square FeetMixed Use

$8,400,000
floors / apts6 / 5
Lot Size20'x74'
Built Size20'x294'
ZoneR8B
Building TypeLow-Rise
RE Taxes$85,645
Price Per SF
$1,240

Listing Features

  • Deco Fireplace
  • No AC
  • Oil Heat

Outdoor space and views

  • Garden
  • Patio
  • Empire State Bldg

Building Amenities

  • Video Intercom
  • Laundry Room
  • Roof Deck

Property Description for 134 East 28th Street

Cushman & Wakefield has been exclusively retained to arrange for the sale of 134 East 28th Street, a 20’ wide, 6-story mixed-use property located on the south side of East 28th Street between Lexington and Third Avenues in Kips Bay, Manhattan. Completely rebuilt in 2015, the 5,893 square foot property consists of 5 Free Market apartments above a store leased to Alpina Copy World through March 2027. The apartments are all completely renovated consisting of top of the line stainless steel appliances, dishwashers, microwaves, soft close cabinetry, pre-installed through the wall A/C units, and large private balconies for each apartment. The tenants pay for their own heat and electric. The building benefits from a new laundry system within the building, video intercom system and a massive private roof deck that captures breathtaking views of the Empire State Building. The building is ideal for any investor seeking a turnkey, fully Free Market, fully occupied, cash flowing property in an excellent rental submarket with still more upside in the rents. 134 East 28th Street is situated just off the corner of Lexington Avenue where residents enjoy Murray Hill and Kips Bay’s finest restaurants, convenience stores and grocery stores like Trader Joe’s, Target and Fairway. Public transportation is easily accessible with the 6 train entrance only two blocks away on Park Avenue South. The Property is also near Madison Square Park, Gramercy Park, Grand Central and Baruch College.

Listing History for 134 East 28th Street

Now
07/19/2022
POM by Andrew Berry
Cushman & Wakefield
05/25/2022
$8,400,000 [-$850,000] [9.2%]
Price Drop by Andrew Berry
Cushman & Wakefield

Building Details for 134 East 28th Street

OwnershipMixed Use
Building TypeLow-Rise
Service LevelVideo Intercom
AgePost-War
AccessWalk-up
Year Built2015
Floors/Apts6/5
Learn More About the Building

Transit and Citi Bike

Subway

28 St
0.11 miles
33 St
0.25 miles
23 St
0.29 miles
23 St
0.38 miles
28 St
0.39 miles

Citi Bike

Lexington Ave & E 29 St
0.05 miles
Lexington Ave & E 26 St
0.08 miles

Contact Agents

Contact Agents

Andrew Berry
Cushman & Wakefield
Craig Waggner
Cushman & Wakefield
John Ciraulo
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: 28440TH