$5,100,000
Updated a year ago
Off Market

140 East 27th Street

Kips Bay, Manhattan | Lexington Ave & Third Ave

5 Baths4,660 Square FeetMixed Use

$5,100,000
floors / apts4 / 4
Lot Size20'x99'
Built Size20'x50'
Building TypeTownhouse
RE Taxes$97,330
Price Per SF
$1,094

Listing Features

  • High Ceilings
  • Spiral Staircase
  • Electric Heat
  • Unknown AC Type

Outdoor space and views

  • Private Roof
  • Empire State Bldg

Building Amenities

  • Voice Intercom

Property Description for 140 East 27th Street

Great opportunity to purchase this Mixed-Use building in the heart of the thriving Kip's Bay neighborhood of Manhattan. The building is located between Lexington Avenue and Third Avenue and consists of the ground floor restaurant/bar, Jack Diamond's, plus the three residential floors above. The restaurant has 3% annual increases in the monthly rent and is a few years into a fifteen year lease. The residential apartments are all Free Market and are all leased. There is room to raise residential rents which are currently are below market rates. There is also the possibility of renovating the apartments and significantly increasing the rents.

The heat is electric and the responsibility of the tenant. Additionally, 140 East 27th St is located a few blocks from the 28th St Subway (6 line).The MTA bus stops uptown on Third Avenue and downtown on Lexington Avenue. The MTA crosstown bus is on 23rd Street and 34th Street.

On-Premises 4:00am Liquor License.

Building facade and interior hallways have recently been painted.

Building is being offered for sale "as-is".
Note: Photos of the restaurant are prior to the latest renovation.
Disclaimer: Financials provided are contain estimated dollar amounts and are subject to verification and change.

Building Details for 140 East 27th Street

OwnershipMixed Use
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts4/4
Learn More About the Building

Transit and Citi Bike

Subway

28 St
0.14 miles
23 St
0.25 miles
33 St
0.31 miles
23 St
0.36 miles
28 St
0.42 miles

Citi Bike

Lexington Ave & E 26 St
0.04 miles
Lexington Ave & E 29 St
0.11 miles

Contact Agent

Contact Agent

James Manning
Station Cities

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: 94978TH