209 East 31st Street

About this property

1031 exchange opportunity.

Large Kip’s Bay townhouse, two unit mixed use with commercial offices on lower two floors and residential duplex on top two.

Gross rent $450,000 NNN 5.03% CAP with Corporate Guarantee for office lease. Turnkey, 100% leased.

Unit #1 is a two levels + basement occupied by a financial services company. Rent is $300,000 per annum with a corporate guarantee (from a publicly traded NYSE company) – 5 years + 5 year option at $330,000 per annum.

1. set up: Basement used for storage and building mechanicals. Garden Level includes entrance lobby, office, kitchen, conference room, 2 half bathrooms + back yard. Parlor Level includes ‘Havana Room’ -with coffered ceilings, onyx bar, drop-down theatre screen & projection system, office, bullpen and 1/2 bath.

1. set up: Top two floor duplex with the seller paying $150,000 per year + real estate taxes for 5 years. Large LR + DR + kitchen + office, bath and terrace on 3rd floor.
   3 bedrooms and two baths on top floor.

Seller is willing to vacate should the buyer prefer.

Listing Courtesy of Joe Pellicane