250 E 32nd Street, New York, NY 10016

$3,999,000

Seller is Very Motivated Offered at $3,999,000 Welcome to 250 East 32nd Street, a meticulously maintained, mixed-use, four-story building in the heart of Kips Bay. With a full gut renovation completed approximately 10 years ago, this property combines modern infrastructure with timeless appeal, making it an ideal opportunity for… Read More both investors and owner-users seeking a strategic foothold in a thriving Manhattan submarket. Property Overview: Configuration: 3 units total Ground Floor & Lower Level: Fully equipped dental office Second Floor: Commercial/office studio space (zoned commercial) Top Two Floors: Spacious, upscale duplex penthouse apartment with private roof deck Current Tenancies & Lease Terms: 100% Occupied: Immediate income stream Penthouse Apartment: Rent: $6,495/month Lease Expiration: November 1, 2025 Recent gut renovation, in-unit washer/dryers, hardwood floors, and a flexible one-to-two bedroom layout Private 620 sq. ft. roof deck Commercial Tenant (Dental Office): Rent: $11,000/month plus 40% of real estate taxes (currently $1,333/month) Fully plumbed treatment rooms, lab space, pump and vacuum systems, and X-ray-ready areas, making it turnkey for medical/dental use or adaptable for other professional services Building Highlights: Solid Investment Potential: Stable income from established tenants, with the possibility of future rental increases or reconfiguration to maximize value. Quality Infrastructure: Gut renovated approximately 10 years ago, ensuring modern mechanicals, updated plumbing/electrical systems, and reduced maintenance costs. Mixed-Use Flexibility: Ideal for an investor seeking diverse revenue streams or an owner-user looking to occupy the commercial space or the penthouse while collecting income from the other units. Location & Connectivity: Prime Kips Bay Setting: Surrounded by medical centers such as NYU Langone, as well as popular retailers including Trader Joe’s and Duane Reade. Excellent Transit: Near the 6 train at 33rd Street and multiple bus lines, making commutes and client access seamless. Neighborhood Growth: Kips Bay’s ongoing residential and commercial development supports strong demand, occupancy stability, and long-term appreciation. A Unique Opportunity: 250 East 32nd Street stands ready for an investor or owner-occupant who appreciates a turnkey asset, robust existing income streams, and the flexibility to adapt the building for future growth. With established leases, a prime location, and quality renovations already in place, this property is poised to deliver steady returns and value appreciation for years to come. For further information, or to schedule a private viewing, please reach out today. Read Less

Listing Courtesy of: Andrew Stearn, Blu Realty Group, 212-580-8879.

Listing Snapshot

Days Online

232

Last Updated

Aug 1, 2025

Property Type

MultiFamily

Beds

Full Baths

Partial Baths

Square Ft.

3,120

Lot Size

0.01 Acres

Year Built

1920

MLS Number

RLS20037614

30 Days Snapshot Of 10016

$1.82M

+41%

(avg) sold price

-23%

homes sold

137

-10%

(avg) days on market

Snapshot

Area Map

Additional Details

Building

Living Area Units: SquareFeet, Rooms Total: 16

Exterior Features

Other Equipment: Intercom, Patio And Porch Features: Rooftop

Foundation

Foundation Area: 0

Property

Property Sub Type: MultiFamily

Taxes

Tax Annual Amount: $40,000, Tax Block: 912, Tax Lot: 39

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