New York (Kips Bay), NY, 10016 | $10,950,000

Every house has a story, but this houses at 223–225 East 31st Street had quite a storied past. Let’s focus on the offering for now. In Murray Hill, this property presents a once-in-a-generation opportunity to acquire a double wide townhouse, a combination of 2 townhouses with one certificate of occupancy. The house spans an impressive 33 feet wide by 98 feet deep. Encompassing approximately 9, 071 square feet, this 4 story mixed-use property offers scale, flexibility, and distinction rarely found in Manhattan. The property offers an additional buildable FAR of 2216 sq. ft. 223-225 East 31st Street are 2 of 4 identical townhouses built in a row from 221 through 227 East 31st Street. They were built around 1858 in the Anglo-Italianate style and uncharacteristic of these houses but in the area, these houses were built with Ornate Cast iron Lintels above all the windows with French inspired backets and keystones. While some sources list the construction date as 1901, historical records indicate they were originally completed in the late 1850s. The original architect for the row is not explicitly named in common historical records, which was typical for mid-century speculative housing. We are in the process of searching for more historical records. Commercial Space (First & Second Floors + Basement) The ground level features a welcoming reception area (easily reconfigured to suit a variety of uses), a kitchen, two half bathrooms, one on-site parking garage space, and three private offices. Toward the rear, a studio space that was built of the garden of both houses at a dramatic 23 Ft tall 42 ft long by 30 ft wide, with a retractable sunroof creates a striking architectural focal point. This unique volume has been featured in the HBO series And Just Like That. . . , the continuation of Sex and the City. What we do know from historical records was this building was purchased by the first Chinese Presbyterian Church in New York and was also a school and the massive structure was likely their gymnasium. The commercial portion also offers direct access to a full-lot basement, providing substantial additional storage or functional space. The Second Floor includes one full bathroom and multiple vacant rooms with hardwood floors and floor to ceiling multipaned windows overlooking East 31st Street, allowing for abundant natural light throughout. Third Floor at approximately 1897 sq ft. , is a residential apartment that spans the entire width and length of the floor. A generous floorplan consisting of 2 bedrooms, 2 bathrooms, a large living dining area and a sunroom that leads to a large private terrace, creating a seamless indoor-outdoor living experience. Fourth Floor at approxamtely 1500 sq ft. is currently a 2 bedroom 2 bath apt with an oversized living room w skylight and a cooks size kitchen. This is an exceptional opportunity for developers, investors, end-users, or live-work buyers seeking scale, income potential, and architectural character in a prime Manhattan location. 223 East 31st Street sits quietly along the north side of East 31st Street between Second and Third Avenue — a refined, townhouse-lined stretch that feels distinctly residential despite being moments from Midtown’s core. Flanked by elegant brownstones, the block offers privacy and charm rarely found this close to Manhattan’s major corridors. Yet within half a block, the setting transitions seamlessly into a vibrant, service-rich neighborhood environment. To the east, Second Avenue, residents and tenants enjoy immediate access to daily conveniences including supermarkets, cafés, fitness studios, and neighborhood retailers, as well as AMC Theatres, which anchors evening and weekend foot traffic. Two blocks away, NYU Langone Health serves as one of Manhattan’s premier medical institutions. To the west, Third Avenue offers a lively mix of sit-down restaurants, boutique shops, specialty services, veterinary urgent care and neighborhood staples that give this pocket o

Features

  • Town: New York
  • Levels: 4
  • Rooms: 15
  • Bedrooms: 4
  • Baths: 4 full / 2 half
  • Lot Size: 3259 x 1
  • Laundry: Common On Floor,See Remarks
  • Year Built: 1920
  • Approx Sq. Feet: 9,071
  • Est. Taxes: $135,936
  • Pet Policy: Building No,No
  • MLS#: RLS20076281
  • Days on Market: 127 days
  • Website: https://www.raveis.com
    /prop/RLS20076281/223225e31ststreet_newyork_ny?source=qrflyer
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All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.
Listing courtesy of Compass   Phone: (212) 913-9058

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NMLS Mortgage Loan Originator ID 1880936

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New York (Kips Bay), NY, 10016

$10,950,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Sarah DeFlorio

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 347.223.0992

Sarah.DeFlorio@Raveis.com

NMLS Mortgage Loan Originator ID 1880936

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $8,760,000 $8,760,000 $8,760,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.500% 6.125% 6.000%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.165% 6.259% 6.183%
Monthly Tax Payment $11,328 $11,328 $11,328
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $49,738 $53,227 $73,922
Total Monthly Payment $61,191 $64,680 $85,375

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.