A new townhouse opportunity in bustling Kips Bay. This c. 1890's exquisitely maintained brickstone is a 4,414 square foot, 3-unit mixed-use property with multiple options for an end-user and/or investor. The house consists of a stunning high dollar duplex rental at the parlor level and above, which is currently leased until later this year. The true townhouse penthouse with multiple outdoor spaces , which was gut renovated in 2015, is also currently leased . The doctors office has just been demolished and the current owner has submitted plans to combine this garden level with the duplex above to create an approximately 3515 SF owners triplex with a garden. This option gives a new end user ample time to execute their own pre-development plans for the property while collecting high dollar rental income. For the investor, the option to lease out the doctors office now has a clear path with blank canvas from which to work. The house is in an area teaming with medical professionals and multiple garden level offices. Built 45' deep with a 3 story, 12' x 16' extension on a 98' lot, this income-producing property has a Net Operating Income of $244,000, representing a healthy cap rate of 3.7%. Additionally, there is appr, 2000SF of additional FAR. The property is situated within few blocks of the hub of major New York hospitals and medical professional institutions. Additionally, major development continues in the area including the much talked about and massive rental project, the American Copper Buildings, by the renowned SHoP Architects and JDS Development. A slew of other residential properties currently in development are reinvigorating the area along with major investments in retail and amenities. Ideally located near the Queens-Midtown tunnel, it is also a few blocks east of the 33rd Street subway station served by the 6 line (10 min from Grand Central). For Long Island City commuters, the 34th Street East River Ferry Terminal is a short distance from the building. Please call or email to schedule a visit, request a set-up and/discuss the development plans. Also ask us about the comparable property on the block at 308 East 30th, which is a nearly completed total renovation of an almost identical property.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
