250 East 32nd Street

250 E 32nd St
Kips Bay

$4,250,000
Price
2
Beds
2
Baths
2
1/2 Baths
3,120 Sq. Ft.
$1,362 / Sq. Ft.
3,120
Sq. Ft.
$1,362
per Sq. Ft.

Description

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:...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.

Property Details for 250 East 32nd Street

Zoning
C1-8A
Architectural Style
Prewar
LISTING UPDATED: 12/12/2024 12:31 PM

Property Details for 250 East 32nd Street

StatusActive
MLS IDOLRS-0022686
Days on Market2
Taxes$3,333 / month
Maintenance-
Min. Down Pymt-
Total Rooms16.0
Compass TypeMixed Use
MLS TypeMixed Use
Year Built1920
Lot Size624 SF / 26' x 24'
CountyNew York County

Building

250 E 32nd St

2 Units4 StoriesBuilt in 1920

Building Information for 250 East 32nd Street

Stories4Residences2Year Built1920Lot Size624 SF / 26' x 24'Building Age-Building Type-

Property Information for 250 East 32nd Street

Summary
Location and General Information
  • Subdivision Name: Kips Bay
  • Cross Street: Third Avenue/Second Avenue
  • Stories Total: 4
Taxes and HOA
  • Tax Lot: 39
  • Tax Block: 912
  • Building Tax Lot: 39
  • Tax Abatement YN: false
Parking
  • Garage: No
Property
Lot Information
  • Living Area: 3120.0
  • Building Area Total: 3120.0
  • Building Area Units: SquareFeet
  • Lot Size Dimensions: 26.00 x 24.00
  • Living Area Units: SquareFeet
  • Foundation Area: 0.0
Building Information
  • Building Exterior Features: BuildingRoofDeck
  • Building Laundry Features: SeeRemarks
  • Building Pets Allowed: BuildingYes
Property and Assessments
  • New Development: No
  • Certificate Of Occupancy: No
  • Common Interest: None
  • New Construction: No
  • Structure Type: WalkUp
  • Property Condition: Good
Interior and Exterior Features
Exterior Features
  • Exterior Features: RoofDeck
Interior Features
  • Other Equipment: Intercom
  • ElevatorsTotal: 0
  • Size Dimensions: 26.00 x 24.00
Multi Family
Multi-Family Information
  • Number Of Units Total: 0
Rental
Rental Information
  • Pets Allowed: UnitYes
  • Delivered Vacant: Yes
  • Attendance Type: None

Property History for 250 East 32nd Street

DateEvent & SourcePriceAppreciationLink
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 250 East 32nd Street

This home is within New York City Geographic District # 2.
Rating
School
Type
Grades
Distance
P.S. 116 Mary Lindley Murray
Public - PK to 5
Nyc Lab Ms For Collaborative Studies
Public - 6 to 8
Lower Manhattan Community Middle School
Public - 6 to 8
Jhs 104 Simon Baruch
Public - 6 to 8
Rating
School
Distance
P.S. 116 Mary Lindley Murray
PublicPK to 5

Nyc Lab Ms For Collaborative Studies
Public6 to 8

Lower Manhattan Community Middle School
Public6 to 8

Jhs 104 Simon Baruch
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 250 East 32nd Street, Kips Bay

250 East 32nd Street is a mixed use property for sale in Kips Bay. This property was listed for sale on December 11, 2024 by Blu Realty Group, it's currently listed at $4,250,000. This listing's school district is New York City Geographic District # 2. Nearby schools include P.S. 116 Mary Lindley Murray, Nyc Lab Ms For Collaborative Studies and Lower Manhattan Community Middle School. 250 East 32nd Street is a 2-bed, 3-bath, 3,120 sqft mixed use property built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Blu Realty Group

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2024, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., all rights reserved. This information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2024 The Real Estate Board of New York, Inc., All rights reserved.