Four-Story Mixed-Use
For Sale
$8,500,000
223-225 E 31st Street, New York, NY 10016
Commercial Sale, New York, NY
Property Size9,071 SF
Lot Size0.07 Acres
Price / SF$1,044
Days on Market202
Property Features for 223-225 E 31st Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 4, Bedroom 1, Bathroom 3, Bedroom 2
Subdivision
Kips Bay
High school district
000000
Standard status
Active
Size
8,141 SF
Lot size
0.07 Acres
Additional Details
Property Use
Mixed-Use
Building Details
Architectural style
Other
Buildings
1
Listing Agency:
Compass
(646) 982-0353
Listed By:
Percy Mori
Added: Apr 10
Changed: Oct 28
Last Checked: Oct 28 at 10:06AM
MLS# 11689780
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This four-story mixed-use property combines two connected townhouses under one certificate of occupancy, with a 33-foot width and 98-foot depth. The commercial component spans the first and second floors plus the basement and includes a reception area, kitchen, two half bathrooms, three private offices, one on-site garage parking space, and a full-lot basement. A rear studio measures approximately 23 feet high, 42 feet long, and 30 feet wide, with a retractable sunroof. The second floor also includes hardwood-floored rooms, a full bathroom, and multipaned windows.
The third floor contains an approximately 1,897-square-foot apartment with two bedrooms, two bathrooms, a living-dining area, sunroom, and private terrace. The fourth floor is an approximately 1,500-square-foot, two-bedroom, two-bath apartment with a skylit living room and large kitchen. Additional buildable FAR totals 2,216 square feet. The property is located at 223-225 E 31st Street between Second and Third Avenue, near NYU Langone Health, AMC Theatres, restaurants, shops, supermarkets, cafes, and fitness studios.
The third floor contains an approximately 1,897-square-foot apartment with two bedrooms, two bathrooms, a living-dining area, sunroom, and private terrace. The fourth floor is an approximately 1,500-square-foot, two-bedroom, two-bath apartment with a skylit living room and large kitchen. Additional buildable FAR totals 2,216 square feet. The property is located at 223-225 E 31st Street between Second and Third Avenue, near NYU Langone Health, AMC Theatres, restaurants, shops, supermarkets, cafes, and fitness studios.
Key Highlights
- Two connected townhouses under one certificate of occupancy
- 33 feet wide by 98 feet deep
- Approximately 9,071 square feet with 2,216 square feet of additional buildable FAR
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$259,494
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,189,880
$5.2M
Cap Rate 7%
$3,707,057
$3.7M
Cap Rate 9%
$2,883,267
$2.9M
Market Conditions
NOI Build-Up for 8,141 SF
Gross rent
$488.5K $60.00/SF
− Vacancy
−$73.3K −$9.00/SF
EGI
$415.2K $51.00/SF
− OpEx
−$155.7K −$19.13/SF
NOI
$259.5K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,189,880
Cap Rate 7%
$3,707,057
Cap Rate 9%
$2,883,267
Alternative Uses
Best Use
Mixed Use
$3.71M
$3.24M – $4.32M
NOI $259,494 @ 7.0% cap · market cap 3.05%
Second Best
Office B
$3.64M
$3.19M – $4.25M
NOI $254,917 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$20.26M
$17.73M – $23.64M
NOI $1,418,488 @ 7.0% cap · market cap 16.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
60,751
Businesses Nearby
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Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two connected townhouses combine commercial space, residential apartments, parking, and a private terrace in Murray Hill.
Where is this mixed-use property located?
The property is located at 223-225 E 31st Street New York, NY.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Two connected townhouses under one certificate of occupancy; 33 feet wide by 98 feet deep; Approximately 9,071 square feet with 2,216 square feet of additional buildable FAR
