250 E 32nd St, New York, NY, 10016
About This Home
LIVE + RENT OPPORTUNITY — $3.99M 250 East 32nd Street — Kips Bay, Manhattan A rare chance to own a meticulously maintained mixed-use, four-story building in the heart of Kips Bay — ideal for an owner-occupant who wants to live in luxury while collecting income. Renovated to modern standards about 10 years ago, this flexible property offers both immediate cash flow and the potential to create a stunning, private owner’s suite in one of Manhattan’s most convenient neighborhoods. PROPERTY OVERVIEW Current Configuration: • Ground Floor & Lower Level: Fully plumbed dental/medical office space • Second Floor: Studio apartment • Top Two Floors: Spacious duplex penthouse apartment with private roof deck Current Occupancy: • Penthouse Apartment (Income-Producing): – Rent: $6,995/month – Features: In-unit washer/dryer, hardwood floors, and a 620 sq. ft. private roof deck • Ground Floor, Second Floor, & Lower Level: Vacant — ready for conversion into an expansive private owner’s suite, professional space, or combination of both. WHY THIS IS SPECIAL • Live + Earn: Move into the vacant floors and design your dream home while the penthouse tenant offsets your carrying costs. • Flexible Space: Over 3,000 sq. ft. of potential for a custom owner’s residence, professional office, or hybrid live-work space. • Updated Infrastructure: Modern plumbing, electrical, and mechanical systems mean fewer surprises and lower upkeep. • Prime Location: Steps from NYU Langone, Trader Joe’s, AMC Kips Bay, and countless restaurants — with excellent transit options nearby. INVESTMENT POTENTIAL • Current income: $83,940/year from the penthouse lease. • Ability to re-lease or reconfigure remaining floors to generate significant additional rent or create unmatched personal living space. • Perfect for professionals wanting a home office setup with private street-level access. SUMMARY: 250 East 32nd Street offers more than just square footage — it offers flexibility, income, and the ability to design your own Manhattan lifestyle. Live in a spacious, custom-built suite while collecting steady rent from the penthouse tenant.
Getting Around
Walker's Paradise
Rider's Paradise
Very BikeableSchools
Construction
Condition
- Year built: 1920
Type & Style
- Home type: SingleFamily
- Property subType: Building
Interior
Appliances
- Appliances included: Dishwasher,Washer/Dryer
- Laundry features: Inside
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 4
- Full bathrooms: 2
- 1/2 bathrooms: 2
Features
- Flooring: Hardwood
- Fireplace features: Gas
- Fireplace: Yes
Interior Area
- Total structure area: 3,125
- Total interior livable area: 3,125 sqft
Property
Details
- Parcel number: 009120039
- Special condition: Resale
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Heat Wave
- Strong Wind
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in New York County and New York
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $20,221 | $242,652 |
| Home Insurance * | $4,695 | $56,340 |
| Property Taxes | $2,366 | $28,392 |
| Electricity | $516 | $6,197 |
| Total | $27,798 | $333,576 |
Income You'd Need if You Spent...
New York FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2025-07-08 | Price change | $3,999,000 |
| 2024-12-11 | Listed for sale | $4,250,000 |
| 2021-09-23 | Listing removed | -- |
| 2021-05-06 | Price change | $3,999,900 |
| 2021-03-01 | Listed for sale | $4,500,000 |
| 2006-09-28 | Sold | $2,360,000 |
| 2006-04-12 | Sold | $2,360,000 |
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