Prime Office Investment Opportunity in Midtown South – 250 East 32nd Street
Asking Price: $3,995,000
Price per SF: $1,278.40
Cap Rate: 4.63%
Property Type: 2-Star Office Building
Sale Type: Investment
Status: Active
Location: 250 East 32nd Street, New York, NY, 10016 (Midtown South – Kips Bay / Murray Hill)
RBA (Rentable Building Area): 3,125 SF
Stories: 4
Typical Floor Size: 625 SF
Building Class: B
Construction: Masonry
Property Overview:
250 East 32nd Street presents a rare opportunity to acquire a stabilized, fully-leased office building in the heart of Midtown South. This 4-story, 3,125 SF property is located near NYU Langone, the 33rd Street subway station, and major healthcare and commercial institutions, making it ideal for investors seeking a turnkey asset in a high-demand corridor.
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Investment Highlights:
✔ Stable Income: Current cap rate of 4.63% with potential upside
✔ Turnkey Asset: Fully-leased to professional tenants with reliable cash flow
✔ Prime Midtown South Location: Between 2nd and 3rd Avenues near NYU Langone Medical Center
✔ Boutique Building: Ideal for medical, law, design, or boutique agency tenants
✔ Efficient Layout: 625 SF per floor – ideal for single-tenant or multi-tenant flexibility
✔ Low Maintenance: Solid masonry construction with minimal operating expenses
Additional Information:
- Zoning: Commercial
- Past Sale History: Previously sold for $900,000 in April 2002 ($288/SF)
- Accessibility: Close to 6 train at 33rd St, express buses, FDR Drive, and Midtown Tunnel
- Market: Manhattan CBD – Excellent long-term appreciation potential
Conclusion:
250 East 32nd Street offers a rare blend of Midtown accessibility, strong tenancy, and manageable scale, making it an ideal acquisition for private investors, 1031 exchange buyers, or those seeking stable returns in a maturing neighborhood. With high pedestrian traffic and institutional anchors nearby, this property is well-positioned for long-term value.
Contact us today for a full setup, rent roll, and to schedule a private tour.
