Cushman & Wakefield Retained Exclusively to Sell Multifamily Building in Kips Bay
Cushman & Wakefield has been retained on an exclusive basis to sell a multifamily building at 230 East 27th Street, located between Second and Third Avenues in Manhattan’s Kips Bay neighborhood. The asking price is $20,500,000.
The six-story, walkup building contains approximately 22,000 square feet and sits on a 45’ x 98.75’ lot. Fully-occupied, it consists of 25 residential units, of which 19 are free market, three are rent stabilized, and three are rent controlled. All of the units are three-bedroom, with the exception of an expansive five-bedroom unit featuring a private terrace and patio located on the garden level. A majority of the residences were recently gut renovated and feature high-end finishing including marble countertops, stainless steel appliances, hardwood floors, and high-end cabinetry.
The property is located within three blocks of the East 28th Street 6 train stop. This offering represents an excellent high cash flowing asset with long-term upside.
This property is being marketed exclusively by Cushman & Wakefield’s James Nelson, John Ciraulo, Craig Waggner, and David Shalom.