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250 E 32nd St
3,125 SF 100% Leased Office Building New York, NY 10016 £3,406,375 (£1,090/SF) 4.38% Net Initial Yield
Investment Highlights
- This property is near the corner of 2nd Ave and E 32nd.
Executive Summary
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 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: Secure, immediate income stream
Penthouse Apartment:
Rent: $6,495/month
Lease Expiration: November 1, 2025
Recent gut renovation, central air, in-unit washer/dryer, hardwood floors, and a flexible one-to-two bedroom layout
Private 625 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, rent rolls, or to schedule a private viewing, please reach out today.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£181,099
|
£57.95
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£181,099
|
£57.95
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£32,060
|
£10.26
|
| Net Operating Income |
£149,039
|
£47.69
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £181,099 |
| Annual Per SF | £57.95 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £181,099 |
| Annual Per SF | £57.95 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £32,060 |
| Annual Per SF | £10.26 |
| Net Operating Income | |
|---|---|
| Annual | £149,039 |
| Annual Per SF | £47.69 |
Property Facts
Amenities
- Bus Route
- Fireplace
- Roof Terrace
- Central Heating
- Partitioned Offices
- Reception
- Recessed Lighting
- Wooden Floors
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- DESIGNER BRACES
- Health Care and Social Assistance
- -
- -
- Feb 2025
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| DESIGNER BRACES | Health Care and Social Assistance | - | - | Feb 2025 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Prime Dental Office with Optional Studio Apartment 250 East 32nd Street, Murray Hill Seize this exceptional opportunity in the heart of Murray Hill. 250 East 32nd Street offers a versatile two-floor dental office for $7,000/month, with an optional second-floor studio apartment for an additional $3,500/month. Ground Floor (Dental Office): -Reception area -Three treatment rooms, fully plumbed for dental use -Lab space -Pump and vacuum systems included -Dental chairs and X-ray machines negotiable with the current tenant Lower Level: -X-ray-ready room -Washer/dryer unit -Ample storage for equipment and supplies Optional Second-Floor Studio Apartment: -Private alcove layout with space for a king-sized bed -Recently renovated countertops and flooring (gut-renovated approximately 10 years ago) -Zoned for commercial use, offering flexibility for use as a private retreat or potential office space Additional Information: -Lease Terms: Flexible lease terms; tenant-paid utilities -Ownership Opportunity: Building available for purchase Nearby Amenities: -NYU Langone Medical Center: Ideal for professional referrals -Trader Joe’s and Duane Reade: Convenient for daily essentials Transportation: -Subway: 6 train at 33rd Street station, approximately 0.3 miles away -Bus Lines: BM2, BXM4, M2, M3, Q32, QM10, QM12, QM2, QM5, X68 -Parking: Nearby garages, including 104 E 32nd St Garage Neighborhood Highlights: -Murray Hill is experiencing significant development, including new residential projects and mixed-use developments, enhancing the area's vibrancy and foot traffic. -The neighborhood's blend of historic charm and modern amenities makes it attractive to professionals and residents alike. This property is ideal for dental professionals seeking a centrally located office with the convenience of an optional live-work arrangement. Contact us today to schedule a viewing or to inquire about leasing and purchasing options.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 1,280-1,920 SF | Office/Medical | Full Build-Out | 30 Days |
1st Floor
| Size |
| 1,280-1,920 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
1st Floor
| Size | 1,280-1,920 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | 30 Days |
Prime Dental Office with Optional Studio Apartment 250 East 32nd Street, Murray Hill Seize this exceptional opportunity in the heart of Murray Hill. 250 East 32nd Street offers a versatile two-floor dental office for $7,000/month, with an optional second-floor studio apartment for an additional $3,500/month. Ground Floor (Dental Office): -Reception area -Three treatment rooms, fully plumbed for dental use -Lab space -Pump and vacuum systems included -Dental chairs and X-ray machines negotiable with the current tenant Lower Level: -X-ray-ready room -Washer/dryer unit -Ample storage for equipment and supplies Optional Second-Floor Studio Apartment: -Private alcove layout with space for a king-sized bed -Recently renovated countertops and flooring (gut-renovated approximately 10 years ago) -Zoned for commercial use, offering flexibility for use as a private retreat or potential office space Additional Information: -Lease Terms: Flexible lease terms; tenant-paid utilities -Ownership Opportunity: Building available for purchase Nearby Amenities: -NYU Langone Medical Center: Ideal for professional referrals -Trader Joe’s and Duane Reade: Convenient for daily essentials Transportation: -Subway: 6 train at 33rd Street station, approximately 0.3 miles away -Bus Lines: BM2, BXM4, M2, M3, Q32, QM10, QM12, QM2, QM5, X68 -Parking: Nearby garages, including 104 E 32nd St Garage Neighborhood Highlights: -Murray Hill is experiencing significant development, including new residential projects and mixed-use developments, enhancing the area's vibrancy and foot traffic. -The neighborhood's blend of historic charm and modern amenities makes it attractive to professionals and residents alike. This property is ideal for dental professionals seeking a centrally located office with the convenience of an optional live-work arrangement. Contact us today to schedule a viewing or to inquire about leasing and purchasing options.
PROPERTY TAXES
| Parcel Number | 0912-0039 | Improvements Assessment | £199,093 |
| Land Assessment | £111,088 | Total Assessment | £310,181 |
PROPERTY TAXES
Presented by
Blu Realty Group
250 E 32nd St
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