Presenting a prime investment opportunity at 140 E 27th Street, located in New York City’s bustling Kips Bay neighborhood within the Central Business District. This 3-star townhome apartment building spans four stories, offering five residential units across a gross building area (GBA) of 4,660 square feet. Listed at $5,490,000, with a per-unit price of $1,098,000, this property offers significant rental income potential in a high-demand market.
Property Details:
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- Address: 140 E 27th Street, New York, NY 10016
- Sale Price: $5,490,000 ($1,098,000 per unit)
- Sale Type: Investment
- Property Type: 3-Star Townhome Apartments
- Location: Central Business District (CBD), Kips Bay, Manhattan
- Units: 5
- Stories: 4
- Gross Building Area (GBA): 4,660 SF
- Typical Floor Area: 1,165 SF
- Building Class: Class C
- Rent Type: Market
- Units per Acre: 100
- Market Segment: All
Investment Highlights:
- Central Kips Bay Location: Located in the heart of Kips Bay, this property benefits from its proximity to numerous shopping, dining, and entertainment options, as well as convenient access to public transportation. Its central location within the CBD makes it a desirable choice for tenants seeking easy access to Midtown Manhattan and surrounding neighborhoods.
- Steady Rental Income Potential: With five residential units available at market-rate rents, this property provides a stable income stream in a highly sought-after rental market. Each unit’s spacious floor plan is designed to appeal to renters in search of comfortable urban living in a well-connected neighborhood.
- Value-Add Opportunity: Classified as a Class C building, this property offers investors the potential to enhance its value through renovations or upgrades. With strong demand for quality rental units in Manhattan, strategic improvements could increase the property’s revenue and long-term value.
Conclusion:
140 E 27th Street represents a valuable investment opportunity in Manhattan’s Kips Bay neighborhood. Priced at $5,490,000, this 3-star townhome apartment building combines reliable income potential, a desirable location, and room for added value. Ideal for investors looking to expand their portfolio in a stable and in-demand area, this property offers a solid foundation for growth in New York City’s competitive residential market.
