250 E 32nd St 3,125 SF 100% Leased Office Building New York, NY 10016 $3,995,000 ($1,278.40/SF) 4.63% Cap Rate

Offered at $3,995,000
250 East 32nd Street
is a rare opportunity to acquire a meticulously maintained mixed-use, four-story building in thethriving Kips Bay neighborhood. This turnkey property, renovated to modern standards approximately 10 years ago, offers a versatile configuration with strong income potential and flexibility for future growth or reconfiguration. Perfectfor investors seeking a stable asset in a vibrant Manhattan submarket.
Property Overview:
Configuration:
•Ground Floor & Lower Level:
Fully plumbed, dental/medical office
•Second Floor:
Studio Apartment
•Top Two Floors:
Spacious duplex penthouse apartment with private roof deck
This thoughtfully designed building provides an excellent setup for a professional seeking a prime location for their practice or office, while enjoying the convenience of living above and still collecting rent from the residential tenant.
Existing Income and Leasing Details:
•Penthouse Apartment
-Rent: $6,495/month
-All their utilities
-Features: in-unit washer/dryer, hardwood floors, and a 620 sq. ft. private roof deck.
•Second Floor Studio
-Rent: $4,500/mo
-All their utilities
-Full floor studio apt. 25' x 25' minus the stairwell
•Ground Floor, and Lower Level:
-Rent: $6,500/month,
-40% of real estate taxes ($1,388.30/month)
-Common Electric
-Outfitted for medical or dental use, featuring plumbed treatment rooms,
lab space, pump and vacuum
systems, and X-ray-ready areas.
Gross: income $209,940
Taxes: $24,989.38 = 41,648.96 - 40%
Net: $184,950
Investment Highlights:
1. Substantial Cash Flow:
-The building currently has an NOI of $184,950/year.
2. Quality Infrastructure:
-Recently renovated, featuring updated plumbing, electrical systems, and modern
mechanicals, reducing maintenance costs.
3. Prime Location:
-Surrounded by medical centers, retail stores, and restaurants, ensuring consistent demand for commercial and residential spaces.
-Proximity to NYU Langone, Trader Joe’s, and other high-traffic destinations.

Opportunity for Investors:
250 East 32nd Street Presents a unique opportunity to own a modern, income-generating asset in a prime Manhattan location. Whether you continue to operate with its current tenants or explore opportunities to reposition and maximize value, this property is well-suited to provide strong and stable returns for years to come. With its premium location, updated infrastructure, and attractive occupancy mix, this property is poised to thrive in Manhattan's dynamic real estate market.