Four-Story Mixed-Use
For Sale
$8,500,000
223-225 E 31st Street, New York City, NY 10016
Commercial space, two residential apartments, a private terrace, and a distinctive studio are arranged across four levels.
Property Size9,071 SF
Lot Size0.07 Acres
Price / SF$937.05
Days on Market201
Property Features for 223-225 E 31st Street
General Information
Standard status
Active
Size
9,071 SF
Total Parking Spaces
1
Lot size
0.07 Acres
Property subtype
Mixed Use
Additional Details
Property Use
Office
Taxes and HOA fees
Annual Taxes
$71,172
Building Details
Building Size
9,071 SF
Year Built
1920
Buildings
1
Stories
4
Construction
Anglo-Italianate
Listing Agency:
Compass
Listed By:
Percy Mori
(917) 822-1384
Source:
Irynaferenets
Added: Apr 10
Changed: Oct 27
Last Checked: Oct 27 at 3:55AM
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
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Investment Insights
Based on property information with market context.
This four-story mixed-use townhouse combines commercial space on the first and second floors with a full-lot basement and two upper-floor apartments. The property measures approximately 9,071 square feet, with a 33-foot width and 98-foot depth. The commercial portion includes a reception area, kitchen, two half bathrooms, three private offices, one garage parking space, and a studio with a retractable sunroof. The third-floor apartment has two bedrooms, two bathrooms, a sunroom, and a private terrace; the fourth-floor apartment also has two bedrooms and two bathrooms.
On East 31st Street between Second and Third Avenues, the property is on a townhouse-lined block. Nearby neighborhood services, restaurants, shops, AMC Theatres, and NYU Langone Health are within the surrounding area. An additional 2,216 square feet of buildable FAR is noted.
On East 31st Street between Second and Third Avenues, the property is on a townhouse-lined block. Nearby neighborhood services, restaurants, shops, AMC Theatres, and NYU Langone Health are within the surrounding area. An additional 2,216 square feet of buildable FAR is noted.
Key Highlights
- Approximately 9,071 square feet across four stories
- 33 feet wide by 98 feet deep
- Additional buildable FAR of 2216 sq. ft.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$289,138
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,782,760
$5.8M
Cap Rate 7%
$4,130,543
$4.1M
Cap Rate 9%
$3,212,644
$3.2M
Market Conditions
NOI Build-Up for 9,071 SF
Gross rent
$544.3K $60.00/SF
− Vacancy
−$81.6K −$9.00/SF
EGI
$462.6K $51.00/SF
− OpEx
−$173.5K −$19.13/SF
NOI
$289.1K $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%
$5,782,760
Cap Rate 7%
$4,130,543
Cap Rate 9%
$3,212,644
Alternative Uses
Best Use
Mixed Use
$4.13M
$3.61M – $4.82M
NOI $289,138 @ 7.0% cap · market cap 3.40%
Second Best
Office B
$4.06M
$3.55M – $4.73M
NOI $284,038 @ 7.0% cap · market cap 3.34%
Theoretical Best
Specialty Retail
$22.58M
$19.76M – $26.34M
NOI $1,580,531 @ 7.0% cap · market cap 18.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,673
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space, two residential apartments, a private terrace, and a distinctive studio are arranged across four levels.
Where is this mixed-use property located?
The property is located at 223-225 E 31st Street New York City, 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: Approximately 9,071 square feet across four stories; 33 feet wide by 98 feet deep; Additional buildable FAR of 2216 sq. ft.
