223-225 E 31st St - Office/Residential FOR SALE


New York, NY 10016- Kips Bay
$10,950,000 USD
212-913-9058
223-225 E 31st St, New York, NY for Sale
$10,950,000 USD
Office/Residential - FOR SALE
1/12
null | Request Cap Rate

223-225 E 31st St
New York, NY 10016
Kips Bay


OVERVIEW

223–225 East 31st Street Every house has a story, but this house had quite a storied past. Let’s focus on the offering for now. Border of Murray Hill/Kips Bay, 223–225 East 31st Street presents a once-in-a-generation opportunity to acquire a double wide townhouse, a combination of 2 townhouses with one certificate of occupancy. The house spans an impressive 33 feet wide by 98 feet deep. Encompassing approximately 9,071 square feet, this 4 story mixed-use property offers scale, flexibility, and distinction rarely found in Manhattan. The property offers an additional buildable FAR of 2216 sq. f 223-225 East 31st Street are 2 of 4 identical townhouses built in a row from 221 through 227 East 31st Street. They were built around 1858 in the Anglo-Italianate style and uncharacteristic of these houses but in the area, these houses were built with Ornate Cast iron Lintels above all the windows with French inspired brackets and keystones. While some sources list the construction date as 1901, historical records indicate they were originally completed in the late 1850s. The original architect for the row is not explicitly named in common historical records, which was typical for mid-century speculative housing. We are in the process of searching for more historical records. Commercial Space (First & Second Floors + Basement) The ground level features a welcoming reception area (easily reconfigured to suit a variety of uses), a kitchen, two half bathrooms, one on-site parking garage space, and three private offices. Toward the rear, a studio space that was built of the garden of both houses at a dramatic 23 Ft tall 42 ft long by 30 ft wide, with a retractable sunroof creates a striking architectural focal point. This unique volume has been featured in the HBO series And Just Like That..., the continuation of Sex and the City. What we do know from historical records was this building was purchased by the first Chinese Presbyterian Church in New York and was also a school and the massive structure was likely their gymnasium. The commercial portion also offers direct access to a full-lot basement, providing substantial additional storage or functional space. The Second Floor includes one full bathroom and multiple vacant rooms with hardwood floors and floor to ceiling multipaned windows overlooking East 31st Street, allowing for abundant natural light throughout. Third Floor at approximately 1897 sq ft., is a residential apartment that spans the entire width and length of the floor. A generous floorplan consisting of 2 bedrooms, 2 bathrooms, a large living dining area and a sunroom that leads to a large private terrace, creating a seamless indoor-outdoor living experience. This is an exceptional opportunity for developers, investors, end-users, or live-work buyers seeking scale, income potential, and architectural character in a prime Manhattan location. 223 East 31st Street sits quietly along the north side of East 31st Street between Second and Third Avenue — a refined, townhouse-lined stretch that feels distinctly residential despite being moments from Midtown’s core. Flanked by elegant brownstones, the block offers privacy and charm rarely found this close to Manhattan’s major corridors. Yet within half a block, the setting transitions seamlessly into a vibrant, service-rich neighborhood environment. To the east, Second Avenue, residents and tenants enjoy immediate access to daily conveniences including supermarkets, cafés, fitness studios, and neighborhood retailers, as well as AMC Theatres, which anchors evening and weekend foot traffic. Two blocks away, NYU Langone Health serves as one of Manhattan’s premier medical institutions. To the west, Third Avenue offers a lively mix of sit-down restaurants, boutique shops, specialty services, veterinary urgent care and neighborhood staples that give this pocket of Border of Murray Hill/Kips Bay it's enduring appeal. Cultural prestige is also close at hand, with The Morgan Library & Museum just minutes away, adding architectural distinction and intellectual gravitas to the surrounding blocks. Nearby green space and the East River Esplanade further enhance the livability of the area — an increasingly valuable amenity in Midtown-adjacent locations.

FOR SALE DETAILS

PRICE

$10,950,000 USD

PRICE/SF

$1,207 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

C

YEAR BUILT

1858

SPRINKLERS

-

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

R7B

APN/PARCEL ID

0912-0014

ASK ABOUT THIS PROPERTY

Percy MoriCompassMore Info
212-913-9058

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Percy MoriCompassMore Info
212-913-9058

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.