Double Wide Townhouse Mixed-Use
223-225 E 31st St New York, NY 10016
For Sale
$9,500,000
Four-story mixed-use building with street-level commercial space and full residential floors, plus a retractable-sunroof studio volume.
Property Size9,071 SF
Price / SF$1,047
Days on Market51
Property Features for 223-225 E 31st St
General Information
Standard status
Active
Size
9,071 SF
Property subtype
Commercial
Building Details
Year Built
1920
Listing Agency:
Compass
Listed By:
Percy Mori ([email protected])
Source:
Edifyny
Added: Jun 10
Changed: Jul 10
Last Checked: Jul 29 at 7:12AM
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 Compass
Investment Insights
Based on property information with market context.
This double wide townhouse combines two townhouses with one certificate of occupancy and spans approximately 33 feet wide by 98 feet deep. The four-story mixed-use building totals about 9,071 square feet, with an additional buildable FAR of approximately 2,216 square feet. The street-level commercial portion includes a reception area (easily reconfigurable), a kitchen, two half bathrooms, three private offices, and one on-site parking garage space. Toward the rear, a studio space is constructed from the garden area of both houses, with a retractable sunroof and a tall architectural volume measuring approximately 23 feet tall by 42 feet long by 30 feet wide. There is also direct access to a full-lot basement for additional storage or functional space.
The property is located on the north side of East 31st Street between Second and Third Avenue. It sits along a townhouse-lined stretch with a residential feel while remaining close to Midtown. To the east, the block provides access to nearby daily conveniences, and AMC Theatres is described as anchoring evening and weekend foot traffic. Two blocks away, NYU Langone Health is noted as a major medical institution.
The layout supports a range of tenant and buyer strategies, from operating a commercial use on the first and second floors with storage below to maintaining separate residential income on the upper levels. The second floor includes multiple vacant rooms with hardwood floors and floor-to-ceiling multipaned windows overlooking East 31st Street, while the third and fourth floors are configured as apartments, including a sunroom opening to a large private terrace on the third floor and a fourth-floor unit with an oversized living room with skylight and a cook’s size kitchen. The combination of flexible commercial interiors and distinct residential footprints can fit live-work users, developers, and investors looking for a single building with multiple revenue or occupancy paths.
The property is located on the north side of East 31st Street between Second and Third Avenue. It sits along a townhouse-lined stretch with a residential feel while remaining close to Midtown. To the east, the block provides access to nearby daily conveniences, and AMC Theatres is described as anchoring evening and weekend foot traffic. Two blocks away, NYU Langone Health is noted as a major medical institution.
The layout supports a range of tenant and buyer strategies, from operating a commercial use on the first and second floors with storage below to maintaining separate residential income on the upper levels. The second floor includes multiple vacant rooms with hardwood floors and floor-to-ceiling multipaned windows overlooking East 31st Street, while the third and fourth floors are configured as apartments, including a sunroom opening to a large private terrace on the third floor and a fourth-floor unit with an oversized living room with skylight and a cook’s size kitchen. The combination of flexible commercial interiors and distinct residential footprints can fit live-work users, developers, and investors looking for a single building with multiple revenue or occupancy paths.
Key Highlights
- Double‑wide townhouse setup: combination of 2 townhouses with 1 certificate of occupancy
- 4‑story mixed‑use property sized 33 ft wide x 98 ft deep, totaling approx. 9,071 SF
- Additional buildable FAR of 2,216 SF (per provided information)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $462.6k | $51.00 |
| − Vacancy | −$24.1k | −$2.65 |
| EGI | $438.6k | $48.35 |
| − OpEx | −$131.6k | −$14.50 |
| NOI | $307.0k | $33.84 |
9,071 SF · lease $51.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$4.39M
$3.84M – $5.12M
NOI $306,995 @ 7.0% cap · market cap 3.23%
Second Best
Mixed Use
$4.13M
$3.61M – $4.82M
NOI $289,138 @ 7.0% cap · market cap 3.04%
Theoretical Best
Specialty Retail
$22.58M
$19.76M – $26.34M
NOI $1,580,531 @ 7.0% cap · market cap 16.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-story mixed-use building with street-level commercial space and full residential floors, plus a retractable-sunroof studio volume.
Where is this mixed-use property located?
The property is located at 223-225 E 31st St New York, NY.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Double‑wide townhouse setup: combination of 2 townhouses with 1 certificate of occupancy; 4‑story mixed‑use property sized 33 ft wide x 98 ft deep, totaling approx. 9,071 SF; Additional buildable FAR of 2,216 SF (per provided information)