Contacts
John Ciraulo
Cushman & Wakefield
(212) 660-7700
Craig Waggner
Cushman & Wakefield
(212) 660-7744
Jack Stephen
Cushman & Wakefield
Property Details
- Property Type Unassigned
- Property Size 5,200 SF
- Lot Size 0.05 Acre
- Building Class C3
- Year Built 1915
- Date Updated May 10, 2024
The building is approximately 5,200± SF and has been exceptionally well-maintained. The property has been in the hands of current ownership for more than 40 years. The residential units consist of four floor-through 2-bed/ 1-bath free market apartments. The ground floor apartment features a rear private garden apartment.
These large floor-though apartments offer an excellent value-add opportunity to reconfigure the layouts and add bedrooms that will maximize rents due to their large size of approximately 1,105 net square feet and high demand for shared apartments in this neighborhood.
The building is 75% occupied offering investors a cash flowing turnkey asset with future upside on lease renewals. The property benefits from its tax class protected 2A status where NYC cannot raise the taxes each year by more than 8% from the year prior, or 30% over five years. The property is zoned R8B and has approximately 6,690 square feet of unused air-rights.
131 East 29th Street is situated between Lexington and Third Avenues in the Kips Bay Neighborhood. Nearby attractions and neighborhood staples include Madison Square Park, Trader Joe’s, Whole Foods, Murray Hill Mark
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Getting around
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100/100
Walk Score ®
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100/100
Transit Score ®
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90/100
Bike Score ®
Location
- City New York, NY
- Neighborhood Kips Bay
- Zip Code 10016
- Market Manhattan
Points of Interest
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28th Street
0.14 miles
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33rd Street
0.22 miles
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23rd Street
0.33 miles
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Broadway & 23rd Street at Northeast Corner
0.41 miles
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Broadway & 23rd Street at Southeast Corner
0.43 miles
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34th Street–Herald Square
0.55 miles
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34th Street & Broadway at Northwest Corner
0.59 miles
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23rd Street
0.59 miles
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42nd Street–Grand Central
0.63 miles
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Grand Central 42nd Street entrance
0.66 miles
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ChargePoint
0.08 miles
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ChargePoint
0.33 miles
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ChargePoint
0.43 miles
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ChargePoint
0.53 miles
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BP
0.67 miles
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Bus Charging Station
0.70 miles
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Blink
0.81 miles
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Tesla Supercharger
0.87 miles
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ChargePoint
0.96 miles
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ChargePoint
0.96 miles
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Red Ball Garage
0.08 miles
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Select Garages
0.28 miles
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SP+
0.42 miles
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City Parking
0.45 miles
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NYU Langone Parking Lot D
0.50 miles
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Icon Parking
0.52 miles
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Waterside Plaza Parking
0.56 miles
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icon 24hr Parking
0.58 miles
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Icon Parking
0.58 miles
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Herald Square Shopping Court
0.65 miles
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The Hotel @ New York City
0.05 miles
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Parksouth Hotel
0.09 miles
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Hotel 31
0.09 miles
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Clarion Hotel Park Avenue
0.11 miles
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Royalton Park Avenue
0.13 miles
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The Marmara Park Avenue
0.14 miles
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Mondrian Park Avenue
0.14 miles
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The Marmara
0.14 miles
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Hotel Giraffe
0.19 miles
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Lex Hotel NYC
0.19 miles
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Kalustyan's
0.04 miles
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Dover Street Market
0.06 miles
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Little India Market
0.12 miles
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Trader Joe's
0.14 miles
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D'Agostino
0.21 miles
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Target
0.22 miles
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Fairway Market
0.23 miles
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Mrs. K's
0.23 miles
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D'Agostino
0.30 miles
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Morton Williams Supermarkets
0.38 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
