131–135 East 27th Street is a four-story, corner mixed-use building prominently located at the highly visible intersection of East 27th Street and Lexington Avenue, in the heart of Kips Bay. The property features renovated residential units, multiple retail storefronts with strong street presence, and substantial unused development rights—offering a rare combination of stable in-place income and meaningful long-term value-add or development upside. Property Overview Building Size: ±5,358 SF Stories: 4 Year Built: 1910 Construction: Masonry Building Class: S9 – Mixed-Use Corner Lot: Yes (Northeast corner) Tax Class: 2B Annual Taxes: Approx. $143,885 Residential Component Units: 6 one- and two-bedroom apartments Average Unit Size: ±576 SF Condition: Many units gut renovated Select Finishes Include: Stone bathrooms and countertops Stainless steel appliances Dishwashers Secure key-fob building entry Pet-friendly accommodations Commercial Component Retail Units: 4 Retail Area: ±1,400 SF Additional Space: ±500 SF garage/storage Exposure: Strong Lexington Avenue frontage with consistent foot and vehicular traffic, providing excellent visibility and branding opportunities Zoning & Development Upside Zoning: C6-2A / R8A Equivalent Current FAR: 3.15 Maximum Buildable Area: ±10,234 SF Unused FAR / Air Rights: ±4,879 SF The unused development rights provide significant potential for vertical expansion or reconfiguration, subject to approvals—making this an attractive opportunity for investors, developers, or long-term holders. For additional information, financials, or to schedule a private tour, please contact: Ariel Ben Ezra Wingate Advisors Inc.