The Beyond Capital Team is pleased to offer the combined sale of 138-140 E 30th Street, located between 3rd Avenue and Lexington Avenue in the Kips Bay section of Manhattan, New York. 138 & 140 East 30th Street, are two contiguous beautifully pointed brick façade apartment buildings with arched front windows and adorned with original wrought iron balconies and front fencing. Located on a quiet tree-lined street in Kip’s Bay steps away from the bustling and vibrant neighborhoods of Murray Hill, Madison Square Park, and Gramercy Park. Kip’s Bay is an extremely vibrant neighborhood consisting of high end residential, commercial, hospitals, schools, and an array of retail destinations culminating into a very desirable neighborhood to live in. The subject properties offer a multitude of uses potentially fitting the needs for many types of investor or users. 138-140 E 30th have the ability to be delivered with a existing rent roll in place with the upside to increase the CAP Rate.
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Additional buyers will be provided with suggested plans to convert the triplex 5 bedroom into 6 studios to increase the rent roll. The additional 3,359 SQ FT of air rights can be used for an extension of the existing structures. Upon request, we can provide you with current rent rolls along with the short term leases we have in place, proposal from the architect to convert the 5 bedroom triplex into 6 studios and the option to add on to the current building.
Current GROSS RENT ROLL: 425,346.00
Current Net Operating Income: 286,462.08
Current CAP RATE: 4.24%
Proposed GROSS RENT ROLL: 463,200.00
Proposed Net Operating Income: 323,559.00
Proposed CAP RATE: 4.79%
For Viewings, Please Contact Mirza Avdovic of COMPASS.
