Updated 2 months ago
Sold
131 East 29th Street
Kips Bay, Manhattan | Lexington Ave & Third Ave
Multi-Family
$4,050,000
floors / apts4 / 4
ZoneC6-2A
Building TypeTownhouse
RE Taxes$71,424
This property was sold for $4,050,000 on 12/30/25.
Outdoor space and views
- Backyard
Building Amenities
- Voice Intercom
- Laundry Room
Property Description for 131 East 29th Street
Discover an exceptional investment opportunity at 131 East 29th Street, a pristine 5,200-square-foot, 4-unit apartment building in the heart of Manhattan's Kips Bay neighborhood. This well-maintained 20-foot-wide property sits on a generous 98.75-foot lot between Lexington and Third Avenues. Having been under the same ownership for over 40 years, this building presents an outstanding opportunity for investors seeking a turnkey asset with significant upside potential. The property will be delivered vacant and benefits from protected tax class 2A status, ensuring predictable expenses with annual tax increases capped at 8 percent year-over-year or 30 percent over five years.
Features:
5,906 Square Feet
4-Unit Apartment Building
20-foot-wide Frontage
98.75-foot Lot
Lot Size 1,975
Zoning district R8B, C6-2A
Private Backyard On The Garden Level
High Ceilings Throughout The Building
Situated in the heart of Kips Bay, this property offers residents easy access to numerous amenities including Madison Square Park, Trader Joe's, Whole Foods, Murray Hill Market, and diverse dining and entertainment options. Excellent transportation access with the 6 train at 28th Street, B/D/F/M at Herald Square, and R/W trains at 28th Street and Broadway. The property's prime location, protected tax status, and flexible layout make it an exceptional investment opportunity in one of Manhattan's most desirable neighborhoods.
Listing History for 131 East 29th Street
Now
12/30/2025
$4,050,000
Sold and Closed by Sophia Guinchard
Serhant LLC
10/04/2025
Contract Signed by Sophia Guinchard
Serhant LLC
Building Details for 131 East 29th Street
OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Floors/Apts4/4
Transit and Citi Bike
Subway
28 St
0.13 miles
33 St
0.19 miles
23 St
0.35 miles
28 St
0.4 miles
23 St
0.42 miles
Citi Bike
Lexington Ave & E 29 St
0.03 miles
E 30 St & Park Ave S
0.11 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: 27296TH
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