240 East 29th Street

Searching for the lowest-priced townhouse in all of Manhattan, from the park down? An investment with endless opportunities and a property to be proud of? Then, welcome to my new and exciting listing at 240 E 29th Street here in the heart of Kips Bay. Rarely does the opportunity come up to purchase an entire building for the same price as a 2-bedroom apartment. However, for the first time in a long time, you now have this chance. Owning a building in its entirety is quite a privilege for NYC because, unlike co-ops or condos, you don't need board approvals. Plus, there are no HOA or maintenance fees. The property is currently set up as one commercial space and three one-bedroom apartments. The commercial space is currently being used by the owner as an office; however, it previously rented for $3,700 per month, equating to $44,400 a year. Additionally, there are three one-bedroom apartments that were renting for $3,500 a month each, equating to $126,000 a year. Extra space comes from a semi-finished basement and a rooftop that could easily be made into a fantastic outdoor space for you to enjoy the calming trees and iconic Empire State views. With the property being delivered vacant and in the free market, you have multiple options for what to do with the building. You can keep it exactly as it is, using it as a safe haven for your money, letting it likely appreciate and collecting an impressive $170,400 a year in gross rent. Alternatively, you can bring the taxes down by changing the setup or modify the layouts to create two duplexes, giving you one to live in while renting out the other to cover your costs. Another option is to make it into one spectacular single home for your friends and family to enjoy for years to come. If you want even more possibilities, the sky is literally the limit as you also have the rights to add an extra 2,000 sqft. This townhouse truly offers so many opportunities, ones that I would love the privilege to share with you in person. For more information, please reach out directly. Thank you.