248 E 32nd St - Apartments FOR SALE


New York, NY 10016- Kips Bay
$5,450,000 USD
516-978-4831
248 E 32nd St, New York, NY for Sale
$5,450,000 USD
Apartments - FOR SALE
1/19
null | 4.8% Cap Rate

248 E 32nd St
New York, NY 10016
Kips Bay


HIGHLIGHTS

  • 25 Foot wide Multifamily Asset in Murray Hill
  • Completely Free Market Building
  • 7 Total Residential Units, 6 Free Market 1 Bedroom Units
  • Impeccably designed, 2,400 Square foot Triplex with 3 Bathrooms and a 1,200 square foot private garden
  • Prime Cash flowing or live-plus income opportunity
  • Convenient Location: two blocks from 6 Train and directly across from the new Fairway Market

OVERVIEW

The subject property is a 25-foot-wide multifamily property located in the booming Murray Hill neighborhood. Located on one of the finest townhouse blocks, the property consists of 7 free market residential units. Of the 7 units, 6 are large beautifully renovated 1-bedroom apartments. The remaining unit is an enormous 2,400 square foot 3-bedroom, 3-bathroom triplex. The triplex features 3 south facing windows, a fireplace, and an approximate 1,200 square foot private garden. The asset can be viewed as both a cash flowing asset and live-plus income opportunity. From an investment perspective and owner will have the luxury of having a completely deregulated building, which will allow for the investor to enjoy the rapid rental growth in the neighborhood and also provide a tremendous hedge against inflation. The property is in the very attractive tax class 2B, making it ideal for a long-term cash flow investor. The properties desirable triplex with a 1,200 square foot private garden also makes the building ideal for a live-plus income investor. A new owner could live in the triplex unit while enjoy the cash flow from renting out the 6 apartments above. Located conveniently, the property is a few blocks from the 6 train and directly across from Fairway Market and Trader Joes.

FOR SALE DETAILS

PRICE

$5,450,000 USD

PRICE/SF

$948 USD /SF

# OF UNITS

7

PRICE/UNIT

$778,571

CAP RATE

4.8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1915

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R7B

APN/PARCEL ID

0912-0040

ASK ABOUT THIS PROPERTY

Michael PinchasickLeslie J. Garfield & CompanyMore Info
516-978-4831

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Michael PinchasickLeslie J. Garfield & CompanyMore Info
516-978-4831

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