$8,499,000
Updated 3 years ago
Off Market

209 East 31st Street

Kips Bay, Manhattan | Third Ave & Second Ave

13.5 Rooms3 Beds2.5 Baths6,336 Square FeetMixed Use

$8,499,000
floors / apts4 / 2
Lot Size19'x98'
Built Size19'x50'
ZoneR7B
Building TypeTownhouse
Price Per SF
$1,341

Listing Features

  • Beamed Ceilings
  • High Ceilings
  • Central AC
  • Gas Heat

Outdoor space and views

  • Backyard
  • Terrace
  • Wrap Terrace
  • Garden Views
  • Townhouse Views
  • Treeline Views

Building Amenities

  • Voice Intercom

Property Description for 209 East 31st Street

Investor Townhouse Perfect for 1031 Exchange

Large Kip's Bay townhouse, two unit mixed use with commercial offices on lower two floors and residential duplex on top two floors located nearby NYU Langone Medical Center.

Gross rent $450,000 NNN 5.03% CAP with Corporate Guarantee for office lease. Turnkey, 1031 exchange opportunity!

Unit #1 is a two levels + basement occupied by a financial services company. Rent is $300,000 per annum with a corporate guarantee (from a publicly traded NYSE company) - 5 years + 5 year option at $330,000 per annum.

#1 set up: Basement used for storage and building mechanicals. Garden Level includes entrance lobby, office, kitchen, conference room, 2 half bathrooms + back yard. Parlor Level includes 'Havana Room' -with coffered ceilings, onyx bar, drop-down theatre screen & projection system, office, bullpen and 1/2 bath.

#2 set up: Top two floor duplex with the seller paying $150,000 per year + real estate taxes for 5 years. Large LR + DR + kitchen + office, bath and terrace on 3rd floor.

3 bedrooms and two baths on top floor.

Seller is willing to vacate should the buyer prefer.

Building Details for 209 East 31st Street

OwnershipMixed Use
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1901
Floors/Apts4/2
Learn More About the Building

Transit and Citi Bike

Subway

33 St
0.22 miles
28 St
0.27 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

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: 26030TH