140 East 27th Street Kips Bay Townhouse For Sale

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, Jack Diamond's, plus the three residential floors above. 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.