Four-Story Apartment Buildings with
208-210 East 31st Street, New York, NY 10017
For Sale
Contact for pricing
The residential component combines free-market, rent-stabilized, and rent-controlled apartments.
Property Size14,560 SF
Price / SF$580.36
Days on Market22
Property Features for 208-210 East 31st Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Additional Details
Multifamily Units
Tenant in Place
Building Details
Buildings
Stories
Listing Agency:
Avison Young - New York
Listed By:
Peter Gottsacker · License NY #10401403357
(202) 602-1012
Source:
Crexi
Added: Oct 19
Changed: Nov 8
Last Checked: Nov 8 at 5:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Avison Young - New York
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Investment Insights
Based on property information with market context.
Two adjoining four-story buildings contain 18 units: 17 apartments and one commercial space. The combined area is approximately 14,560 square feet, with 40 feet of frontage. Residential occupancy includes 11 free-market apartments, five rent-stabilized units, and one rent-controlled unit. Several apartments have been updated with stainless steel appliances, in-unit washers and dryers, and hardwood flooring. The buildings carry tax class 2B status.
The property is on East 31st Street between Second and Third Avenues in Kips Bay. Transit options include the 33rd Street and 28th Street stations, M15 Select Bus Service on First and Second Avenues, and M34 crosstown buses. Citi Bike stations, the East 34th Street NYC Ferry landing, and the East River Greenway are also part of the area’s transportation network. Grand Central Terminal and Penn Station provide connections to regional and intercity rail services.
The property is on East 31st Street between Second and Third Avenues in Kips Bay. Transit options include the 33rd Street and 28th Street stations, M15 Select Bus Service on First and Second Avenues, and M34 crosstown buses. Citi Bike stations, the East 34th Street NYC Ferry landing, and the East River Greenway are also part of the area’s transportation network. Grand Central Terminal and Penn Station provide connections to regional and intercity rail services.
Key Highlights
- Two adjoining four‑story buildings with 18 total units
- 14,560 square feet across both buildings and 40 feet of combined frontage
- Unit mix includes 17 apartments and one commercial unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$455,543
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,110,860
$9.1M
Cap Rate 7%
$6,507,757
$6.5M
Cap Rate 9%
$5,061,589
$5.1M
Market Conditions
NOI Build-Up for 14,560 SF
Gross rent
$871.9K $59.88/SF
− Vacancy
−$43.6K −$2.99/SF
EGI
$828.3K $56.89/SF
− OpEx
−$372.7K −$25.60/SF
NOI
$455.5K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,110,860
Cap Rate 7%
$6,507,757
Cap Rate 9%
$5,061,589
Alternative Uses
Best Use
Apartment 5plus
$6.51M
$5.69M – $7.59M
NOI $455,543 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.18M
$8.91M – $11.88M
NOI $712,545 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
17
Residential units
Location Intelligence
Trade Area within ½ mile
60,751
Businesses Nearby
Explore this area
Business Placement
Demographics for 10017, NY
17,401
Population
12,866
Households
1.4
Avg Household Size
38
Median Age
85%
College-Educated
97%
High-School Grad
0.3 sq mi
ZIP Area
58,003
Density / Sq Mi
$132,518
Median Household Income
$94,214
Median Earnings
$2,980
Median Rent
$808,200
Median Home Value
Market
Properties on Market for Apartment buildings in New York
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The residential component combines free-market, rent-stabilized, and rent-controlled apartments.
Where is this apartment building located?
The property is located at 208-210 East 31st Street New York, NY.
What is the asking price?
The asking price for this property is $8,450,000.
What are key features of this property?
This property features: Two adjoining four‑story buildings with 18 total units; 14,560 square feet across both buildings and 40 feet of combined frontage; Unit mix includes 17 apartments and one commercial unit
