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Listing Courtesy of Station Cities
$5,100,000
Est. payment /mo
5 Baths
4,660 SqFt
UPDATED:
03/10/2025 08:57 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,660 sqft
Price per Sqft $1,094
Subdivision Kips Bay
MLS Listing ID RLS11012975
Style Prewar,Walk-Up
HOA Y/N No
Year Built 1910
Annual Tax Amount $90,884
Property Sub-Type Multi Family
Property Description
Great opportunity to purchase this Mixed-Use building in the heart of the thriving Kip's Bay neighborhood of Manhattan. The building is located between Lexington Avenue and Third Avenue and consists of the ground floor restaurant/bar, Ernie O'Malley's, formerly Jack Diamond's, plus the three residential floors above and Air Rights. The restaurant has 3% annual increases in the monthly rent and is a few years into a fifteen year lease. The residential apartments are all Free Market and are all leased. There is room to raise residential rents which are currently are below market rates. There is also the possibility of renovating the apartments and significantly increasing the rents.
The heat is electric and the responsibility of the tenant. Additionally, 140 East 27th St is located a few blocks from the 28th St Subway (6 line).The MTA bus stops uptown on Third Avenue and downtown on Lexington Avenue. The MTA crosstown bus is on 23rd Street and 34th Street.
On-Premises 4:00am Liquor License.
Building facade and interior hallways have recently been painted.
Building is being offered for sale "as-is".
Note: Photos of the restaurant are prior to the latest renovation.
Disclaimer: Financials provided are contain estimated dollar amounts and are subject to verification and change.
The heat is electric and the responsibility of the tenant. Additionally, 140 East 27th St is located a few blocks from the 28th St Subway (6 line).The MTA bus stops uptown on Third Avenue and downtown on Lexington Avenue. The MTA crosstown bus is on 23rd Street and 34th Street.
On-Premises 4:00am Liquor License.
Building facade and interior hallways have recently been painted.
Building is being offered for sale "as-is".
Note: Photos of the restaurant are prior to the latest renovation.
Disclaimer: Financials provided are contain estimated dollar amounts and are subject to verification and change.
Location
State NY
County New York
Interior
Heating Electric
Cooling Other
Equipment Intercom
Fireplace No
Laundry See Remarks
Exterior
Porch Rooftop
Private Pool No
Building
Story 4
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $7, 573
Pets Allowed Building Yes, Yes
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RLS Data display by Keller Williams Realty of Greater Nassau