Updated 3 years ago
Sold
137 Lexington Ave
Kips Bay, Manhattan | East 29th Street & East 30th Street
19 Rooms9 Beds6.5 Baths5,708 Square FeetIncome Property
$5,100,000
floors / apts4 / 6
Lot Size17'x85'
ZoneC6-2A
Building TypeLow-Rise
RE Taxes$67,908
Price Per SF
$893
This property was sold for $5,100,000 on 09/14/23.
Building Amenities
- Voice Intercom
Property Description for 137 Lexington Ave
137 Lexington Avenue is a multifamily four story building. The asset is approximately 5,708 square feet plus a usable basement measuring 1353 square feet for a total of 7,061 square feet. The FAR allows for an additional 2,864 square feet for a total of 9,925 buildable square feet (including basement).
This four-story walk-up building contains six residential units and one commercial ground floor unit.
Of the six residential units there is one rent stabilized unit and five free market units. There are three studios and three 2-bedroom units. The first floor unit and part of the basement is currently rented to a laundromat.
This property is located in one of Manhattan's most sought after and active neighborhoods in the city and is in close proximity to some of the best shops, restaurants, and office buildings. The asset is also within several blocks to both highly coveted Madison Square Park and Gramercy Park. The 4 and 6 trains are just a block away and the M101,M102, M103, X2 and X5 bus lines are accessible on Lexington Avenue and 28th Street. As strong residential rental demand continues to drive rental rates higher, 137 Lexington Avenue
offers investors the opportunity to capitalize on an asset with considerable upside as well as consideration for re-development on a prime corner and neighborhood in Manhattan.
Please note some images have been virtually staged.
Listing History for 137 Lexington Ave
Now
09/14/2023
$5,100,000
Sold and Closed by Austin Schuster
Compass
06/06/2023
Contract Signed by Austin Schuster
Compass
Building Details for 137 Lexington Ave
OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1920
Floors/Apts4/6
Transit and Citi Bike
Subway
28 St
0.13 miles
33 St
0.19 miles
23 St
0.35 miles
28 St
0.39 miles
23 St
0.42 miles
Citi Bike
Lexington Ave & E 29 St
0.02 miles
E 30 St & Park Ave S
0.1 miles
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: 88796TH
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