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Property Description
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.
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
Overview
Property Type
Multi-family
Location
131 E 29TH Street, New York City, NY 10016
MLS ID
RLS20007871
Listing Last Updated
3/9/2025 2:57 PM
Property Features & Amenities
Interior
Total Bedrooms
10
Full Bathrooms
4
Other Interior Features
Smoke Free
Exterior
Stories
1
Air Conditioning
Other
Other Exterior Features
Private Outdoor Space Over 60 Sqft
Details
Neighborhood
Kips Bay
View Description
Other
Financial
Price
$4,450,000
Real Estate Tax
$71,424/yr
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