212 East 29th Street
212 East 29th Street
Kips Bay
Well Maintained, Mixed-Use Building in Kips Bay, 100% Occupied
| Asking Pricing | $6,500,000 |
|---|---|
| Type | Mixed-Use |
| Neighborhood | Kips Bay |
| Properties | One |
| Lot Size | 2,469 Square Feet |
| Zoning Code | R8B |
| Size | 9,460 Square Feet |
| Stories | 5 Stories |
| Units | 13 Apartments | 2 Commercial Units |
Investment Highlights:
Meridian Investment Sales is pleased to exclusively offer for sale 212 East 29th Street, a five-story mixed-use building in the Kips Bay neighborhood of New York City. 100%occupied with two longstanding ground floor retail tenants, 11 free market tenants, and just two rent-controlled tenants, this well-maintained walk-up is a unique opportunity to acquire an iconic building steps from mass transportation and around the corner from world renowned hospitals. The 85% free market building offers an in-place average monthly rent of about $3,000 monthly and features 13 two-bedroom / two-bathroom units. In addition, with individual boilers and electrical panels for each unit, investors will enjoy lower operating expenses. Because of the relative affordability of the area combined with the central location, Kips Bay continues to attract young professionals and families. This is a rare opportunity to acquire a well maintained five-story, 85% free market building in prime New York City.
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