718-404-6875
, New York, NY for Sale
Multi-Family - FOR SALE
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587-593 First Avenue
New York, NY
Kips Bay


HIGHLIGHTS

  • Premier corner location with 146 feet of combined frontage
  • Directly across from NYU Langone Health, ensuring constant foot traffic
  • Stable income from 30 residential units and six retail spaces
  • Anchored by Starbucks and other strong neighborhood operators
  • Excellent transit access via 6 train, bus lines, and FDR Drive

OVERVIEW

587–593 First Avenue offers an exceptional opportunity to acquire a prime mixed-use property in one of Manhattan’s most vibrant neighborhoods. Positioned at the highly visible corner of First Avenue and East 34th Street, this asset commands attention with approximately 146 feet of combined frontage, ensuring maximum exposure in a bustling corridor directly across from NYU Langone Health. The property consists of four contiguous, four-story walk-up buildings totaling approximately 21,342 square feet. It features 30 well-maintained residential apartments complemented by six ground-floor retail spaces occupied by a diverse mix of national and local tenants, including Starbucks, NY Bagels & Café, Panini Tozt, The Gyro Project, Makas Barbershop, and Pizza 34 LLC. This strong retail presence caters to the daily needs of the surrounding community and benefits from constant pedestrian traffic driven by the nearby medical campus. Murray Hill and Kips Bay are among Manhattan’s most desirable submarkets, known for their dynamic blend of historic charm and modern convenience. Residents and visitors enjoy tree-lined streets, excellent transit access, and proximity to Midtown, making this location ideal for long-term growth. The property’s connectivity is unmatched, with the 6 train, multiple bus routes, and FDR Drive all within immediate reach. This offering represents a rare chance to secure a fee-simple, income-producing corner property in a neighborhood that continues to attract young professionals, medical staff, and students. With strong demographics, vibrant retail, and enduring appeal, 587–593 First Avenue stands out as a premier investment in the heart of Manhattan.

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Dimitri VenekasCushman & WakefieldMore Info
718-404-6875

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Dimitri VenekasCushman & WakefieldMore Info
718-404-6875

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