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250 East 32nd Street
Midtown East, NYC
$4,250,000 Price
2 Bedrooms   2.2 Baths
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250 East 32nd Street, Midtown East, NYC

Seller is Very Motivated Offered at $4,250,000 Welcome to 250 East 32nd Street, a meticulously maintained, mixed-use, four-story building in the heart of Kips Bay. With a full gut renovation completed approximately 10 years ago, this property combines modern infrastructure with timeless appeal, making...

Seller is Very Motivated Offered at $4,250,000 Welcome to 250 East 32nd Street, a meticulously maintained, mixed-use, four-story building in the heart of Kips Bay. With a full gut renovation completed approximately 10 years ago, this property combines modern infrastructure with timeless appeal, making it an ideal opportunity for both investors and owner-users seeking a strategic foothold in a thriving Manhattan submarket. Property Overview: Configuration: 3 units total Ground Floor & Lower Level: Fully equipped dental office Second Floor: Commercial/office studio space (zoned commercial) Top Two Floors: Spacious, upscale duplex penthouse apartment with private roof deck Current Tenancies & Lease Terms: 100% Occupied: Immediate income stream Penthouse Apartment: Rent: $6,495/month Lease Expiration: November 1, 2025 Recent gut renovation, in-unit washer/dryers, hardwood floors, and a flexible one-to-two bedroom layout Private 620 sq. ft. roof deck Commercial Tenant (Dental Office): Rent: $11,000/month plus 40% of real estate taxes (currently $1,333/month) Fully plumbed treatment rooms, lab space, pump and vacuum systems, and X-ray-ready areas, making it turnkey for medical/dental use or adaptable for other professional services Building Highlights: Solid Investment Potential: Stable income from established tenants, with the possibility of future rental increases or reconfiguration to maximize value. Quality Infrastructure: Gut renovated approximately 10 years ago, ensuring modern mechanicals, updated plumbing/electrical systems, and reduced maintenance costs. Mixed-Use Flexibility: Ideal for an investor seeking diverse revenue streams or an owner-user looking to occupy the commercial space or the penthouse while collecting income from the other units. Location & Connectivity: Prime Kips Bay Setting: Surrounded by medical centers such as NYU Langone, as well as popular retailers including Trader Joe’s and Duane Reade. Excellent Transit: Near the 6 train at 33rd Street and multiple bus lines, making commutes and client access seamless. Neighborhood Growth: Kips Bay’s ongoing residential and commercial development supports strong demand, occupancy stability, and long-term appreciation. A Unique Opportunity: 250 East 32nd Street stands ready for an investor or owner-occupant who appreciates a turnkey asset, robust existing income streams, and the flexibility to adapt the building for future growth. With established leases, a prime location, and quality renovations already in place, this property is poised to deliver steady returns and value appreciation for years to come. For further information, or to schedule a private viewing, please reach out today.

Courtesy of Blu Realty Group

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

New Listing
Midtown East, NYC
Type:
Price: $4,250,000
Date Listed: 12/11/2024
Web ID: 1098643740

Info & Amenities

Rooms: 16.0
Bedrooms: 2
Full Bathrooms: 2
Half Bathrooms: 2.0
Built: 1920
Pets allowed: Yes

Get to Know Midtown East

Midtown East is a vibrant neighborhood located in the heart of Manhattan, New York City. It stretches from East 42nd Street to East 59th Street and is bordered by the East River to the east and Fifth Avenue to the west. This area is known for its bustling commercial district, iconic landmarks, and convenient accessibility to various attractions and amenities.

More About Midtown East

Neighborhood Guide to Midtown East

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