131 East 29th Street

Rental in Murray Hill, Listed on Mar 9, 2025 (19 days on market)

$4,450,000 $753 / ft²

10 beds, 4 baths | ~5,906 ft²

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131 East 29th Street

Rental in Murray Hill, Listed on Mar 9, 2025 (19 days on market)

$4,450,000
$753 / ft²

10 beds, 4 baths
~5,906 ft²

131 East 29th Street

$4,450,000 ($753 / ft²) | 10 beds, 4 baths | ~5,906 ft²

Rental in Murray Hill, Listed on Mar 9, 2025 (19 days on market)

Discover an exceptional investment opportunity at 131 East 29th Street, a pristine 5,200-square-foot, 4-unit apartment building in the heart of Manhattan’’s Kips Bay neighborhood. This well-maintained 20-foot-wide property sits on a generous 98.75-foot lot between Lexington and Third Avenues. Having been under the same ownership for over 40 years, this building presents an outstanding opportunity for investors seeking a turnkey asset with significant upside potential.

The property will be delivered vacant and benefits from protected tax class 2A status, ensuring predictable expenses with annual tax increases capped at 8 percent year-over-year or 30 percent over five years.

Situated in the heart of Kips Bay, this property offers residents easy access to numerous amenities including Madison Square Park, Trader Joe’’s, Whole Foods, Murray Hill Market, and diverse dining and entertainment options. Excellent transportation access with the 6 train at 28th Street, B/D/F/M at Herald Square, and R/W trains at 28th Street and Broadway. The property’’s prime location, protected tax status, and flexible layout make it an exceptional investment opportunity in one of Manhattan’’s most desirable neighborhoods.

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Highlights

Prime Location: Nestled in the vibrant Kips Bay neighborhood, offering easy access to Madison Square Park and a variety of dining and entertainment options.
Turnkey Investment: Delivered vacant, this well-maintained property presents a unique opportunity for investors seeking a hassle-free asset with significant upside potential.
Protected Tax Status: Enjoy predictable expenses with tax class 2A status, capping annual tax increases at 8% year-over-year or 30% over five years.
Spacious Layout: The building features approximately 5,906 square feet of living space across four well-designed apartments, ideal for maximizing rental income.
Excellent Transportation Access: Conveniently located near multiple subway lines, including the 6 train at 28th Street and B/D/F/M at Herald Square, ensuring easy commutes.
Historic Charm: Built in 1915, this property combines classic architectural details with modern amenities, appealing to discerning buyers.

Key Features

Rental

Monthly Taxes, Common Charges & Estimated Mortgage

Real Estate Taxes

$5,952

$1.01 /ft² /mo

Total RE Taxes and CC

$5,952

$1.01 /ft² /mo

Estimated Mortgage

$22,972

Note: the above is only an estimate and is based on a down payment of 20% ($890,000) and a 30 year fixed mortgage at 6.7%.

Total Estimated
Monthly Cost

$28,924

$4.90 /ft² /mo

Nearby Subways

at Park Ave 0.15 miles

at Broadway 0.41 miles

Nearby Schools

Murray Hill Academy
Grades: 9,10,11,12
Manhattan Academy For Arts And Languages
Grades: 9,10,11,12
Unity Center For Urban Technologies
Grades: 9,10,11,12
Ps 116 Mary Lindley Murray
Grades: PK,KG,1,2,3,4,5,UG
Baruch College Campus High School
Grades: 9,10,11,12

Data courtesy of GreatSchools.org

Aaron Academy
Grades: 7,8,9,10
Shefa School
Grades: 1,2,3,4,5,6,7,8
Rebecca School
Grades: UG
Rebecca School
Grades: UG
The Churchill School and Center
Grades: KG,1,2,3,4,5,6,7,8,9,10,11,12

Data courtesy of GreatSchools.org

Listing History

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Mar 9, 2025

Listed for $4,450,000 ($753 per ft²) by Sophia Guinchard, Serhant

About 131 East 29th Street

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Video Tour

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Pricing Comparison

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Listing courtesy of Serhant

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

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RLS IDX Data display by CityRealty.com, LLC. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

All closed sales data has been provided by the New York City Department of Finance via the Automated City Register Information System (ACRIS). No warranty or representation is made as to the accuracy of any data provided by ACRIS or any other sources.

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An equal housing opportunity

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131 East 29th Street

131 East 29th Street

Highlights

Key Features

Monthly Taxes, Common Charges & Estimated Mortgage

Aerial Tour

Nearby Subways

Nearby Schools

Listing History

About 131 East 29th Street

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Pricing Comparison

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