Mixed-Use Retail/Residential Asset in Kips Bay – 141 Lexington Avenue
Address: 141 Lexington Avenue, New York, NY, 10016
Asking Price: $5,950,000 ($1,013.97/SF)
Cap Rate: 3.11%
Sale Type: Investment
Type: 3-Star Retail Storefront / Mixed-Use Retail-Residential
Location: CBD – Kips Bay / Midtown South
Gross Leasable Area (GLA): 5,868 SF
Stories: 4
Typical Floor Plate: 978 SF
Building Class: C
Construction: Masonry
Docks: None
Market Segment: Private Investors, 1031 Exchange Buyers, Value-Add Owners
Property Overview:
141 Lexington Avenue presents a stable mixed-use investment opportunity in the heart of Kips Bay. This 4-story masonry building features a ground-floor retail storefront with residential units above, offering both income security and long-term upside in one of Manhattan’s most dependable rental corridors.
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Investment Highlights:
✔ Asking Price: $5,950,000
✔ Gross Building Area: 5,868 SF across four floors
✔ Ground-floor retail with excellent street exposure
✔ Residential units above – strong rental demand and potential for value-add repositioning
✔ Attractive entry pricing in a high-demand, transit-rich submarket
Location Benefits:
✔ Prime frontage on Lexington Avenue near East 30th Street
✔ Surrounded by medical facilities, residential towers, and major retailers
✔ Walkable to NYU Langone, Baruch College, and multiple Midtown South office corridors
✔ Steps from the 6 train at 28th Street and multiple bus lines
Highlights:
✔ Mixed-use layout ideal for long-term investment or future redevelopment
✔ 3.11% in-place cap rate with upside through unit modernization or lease-up
✔ Strong visibility and foot traffic for retail tenant
✔ Great candidate for 1031 exchange, estate planning, or generational wealth strategy
Conclusion:
141 Lexington Avenue is a well-positioned mixed-use asset with strong fundamentals and long-term appeal. With stable cash flow, irreplaceable location, and potential for gradual appreciation, this property is ideal for investors seeking a foothold in one of Manhattan’s most consistent neighborhoods.
Contact us today to request full financials, a rent roll, or schedule a private tour.
