242 E 40th St, New York, NY 10016
FOR SALE

242 E 40th St
New York, NY 10016

Murray Hill
  • 10 Beds
  • 8 Baths
  • 4,500 sqft
  • 10 Beds
  • 8 Baths
  • 4,500 sqft

$4,289,000

Original price: $4,680,000
Est. Mortgage $25,868/mo*
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Local Information

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Description

4 Story Mixed Use Commercial and Residential Apartment Building in Murray Hill:
Description:
- 7 Residential Units
- 1 Commercial
- Property size 19 x 99
- Building 18×53. 7 Residential and commercial units
- Approx. of 4500 ft.²
- 3 Studio and 3 one bedrooms and 2 bedrooms apartments
242 East 40th Street wide four-story, mixed-use buildings located on East 40th Street
between 2nd and 3rd Avenue. The building has development rights allowing for an
additional 2000sf of residential space to be built (Need to be confirmed with your
architect and design). The 1st, 2nd and 3rd floor, each floor has a studio and 1 BR residential.
units, 4th floor has a 2 BR residential unit. One commercial unit on the half ground floor
currently is a restaurant, it will be opened soon. The subject property consists of solid.
paying tenants. The tenants all pay their own utilities, and the restaurants tenant pays a
portion of the property RE taxes as well. The subject property has plenty of room to
increase the rent income, expect CAP Rate could be up to 6.5%.
Whether you need to be in the heart of Midtown, north of Manhattan or Long Island, this.
incredible location is just steps from Grand Central and its massive transportation.
options, select buses heading north, south and west as well as the Midtown Tunnel.
Investors and pied-à-terre are welcome.

Home Highlights

Parking
No Info
Outdoor
No Info
A/C
Contact Manager
HOA
None
Price/Sqft
$953
Listed
180+ days ago
Listing by: Oxford Property Group, (917) 886-7447

Home Details for 242 E 40th St

Days on Market

Days on Market: 180+ Days on Trulia

Property Information

Year Built
Year Built: 1920
Property Type / Style
Property Type: Multi Family

Price & Status

Price
Price Per Sqft: $953

Community

Units in Building: 7

Price History for 242 E 40th St

DatePriceEventSource
10/03/2023$4,289,000PriceChange
OneKey® MLS #3461391
07/21/2023$4,680,000PriceChange
StreetEasy
07/14/2023$4,688,000Listed For SaleOneKey® MLS #3461391
07/01/2023ListingRemovedOneKey® MLS #3461391
05/14/2023$4,988,000PriceChange
OneKey® MLS #3461391
04/03/2023$5,598,000PriceChange
OneKey® MLS #3461391
03/01/2023$5,800,000Listed For SaleOneKey® MLS #3461391
03/18/2018$8,500,000ListingRemovedAgent Provided
11/09/2017$8,500,000Listed For SaleAgent Provided

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Comparable Sales for 242 E 40th St

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246 E 30th St, New York, NY
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529 2nd Ave, New York, NY
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3,608

Neighborhood Overview

Murray Hill
See Local Highlights
Neighborhood stats provided by third party data sources.

What Locals Say about Murray Hill

  • Scondito
    "Wonderful! Close to grand central so i love it. Easy access and you can get everywhere pretty easily. "
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  • Barbarafae
    "Safe but not the most exciting neighborhood in nyc and not any real sense of community , but clean and convenient to grand central "
    0
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  • Shervin Mobasheri
    "It’s nice I like the area its good to walk around and see the local shops. I enjoy the food and close transit."
    0
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  • Trulia User
    "Seems very safe but not a lot of nature at all. Big corporate buildings and apartments. Should be more art galleries cafes and stores. "
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  • Trulia User
    "Beautiful parks along the waterfront ! access to ferries on 35 th street , Walking distance to UN, Empire State , One Vanderbilt, Grand Central !"
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  • Trulia User
    "Great are to be in quiet neighborhood. Must see it to believe it. You have dog parks, parks for the kids."
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  • Trulia User
    "Pretty great access to transportation. Right down the block from Grand Central where many connecting routes are. This area has many private schools and studying/tutoring centers. There’s a plethora of food and dining as well, many modern places like branch food chains; but there’s also a handful of small “mom and pop” shops."
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  • Trulia User
    "It’s so easy to get any transportation. If you want to go to the west side, take a bus. If you want to go up and down town, you just need to take green subway. So easy. "
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  • Gabrielle D.
    "It is in Manhattan yet it is very quiet. Actually it is the quietest place we ever lived in Manhattan. Yet, you are in walking distance from the UN, Grand Central Station, Times Square, Bryant Park etc. It is also safe being near the UN and having lots of police patrolling the area. We loved being able to walk to Broadway shows and eat Brazilian grilled meat in Times Square. It was nice to be able to take a train or a bus to most places or even a short taxi ride. You can take a bus on train from Bryant Park to Madison Square Garden too. Really this place is centrally located. It is super if you work at the UN and send your kid to the UN child care centre since you don't even have a commute. Everyone nearly has a dog and nobody bothers you. There are lots of nice restaurants in the area. The only down parts are that the buildings here are really old so don't usually have amenities that newer buildings have like swimming pools and gyms. "
    10
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  • Marie.audier
    "Great neighborhood with parks, quietness, small shops and a community feel. Best kept secret with the central location of midtown "
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  • Michael L.
    "Within walking distance of Penn Station, but less grungy and unsafe-feeling than west side of Midtown. (Still lots of homeless in western part of neighborhood around Fifth Ave. though). Pretty safe, though few places are as safe in 2020 as they were a year or two ago."
    11
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  • Marie.audier
    "Tudor City is centrally located to go anywhere in the city : north, south, west. It has a neighborhoody feel yet is very central. "
    0
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  • Emily_vallance
    "Friendly neighborhood dogs are always on a leash, safe streets, parks are clean and well maintained "
    3
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  • Brent P.
    "Murray Hill doesn’t inspire jealousy and I’m fine with it. The neighborhood is great and people who need a flashier section of town...we are fine without you. "
    5
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  • NoName
    "Commute is great!! Accés to Grand Central and from where you can go anywhere. Nice to walk, many restaurants nearby "
    1
    Flag
  • Izabela
    "You can walk to Times Square or even Central park. Everything is near. It is very quiet and safe. No homeless people."
    10
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  • Cbknyc
    "Not many parks for children or animals. But it’s a safe clean neighborhood. Probably fewer children here than other neighborhoods "
    2
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  • Dana
    "The easy access to grocery stores, good food, and transportation. Also, restaurants that are open 24 hours. "
    3
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  • Dana
    "There are no parks, lots of great restaurants, and close to public transportation, grocery stores, and shops. "
    1
    Flag
  • Charles K
    "Civic minded residents. The plantings on the mall are beautiful. Grand central is 5 minutes away. So is the subway. The Morgan is 5 blocks and Scandinavian house across the street"
    5
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  • Cbknyc
    "Close to everything walk to theatre have a trendy bowl of noodles. Neighborhood allows neighborliness"
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  • Cbknyc
    "It’s in the most central location in manhattan within walking distance to 3 transit hubs and many businesses. It has neighborhood service businesses. And . Charming and historic buildings. The Murray hill neighborhood association keeps the community attractive and up to date. "
    1
    Flag
  • Tellis
    "Amazing access to transportation and the midtown tunnel. Quick to get to east village, soho, and cross town. Is "
    1
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  • Pandorafile
    "the churchill- perfect home. great staff. friendly neighbors. great building amenities and community events "
    1
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  • Mbenjamin
    "A private, elevated, park-lined enclave in the heart of midtown east with easy access to Grand Central, the FDR Drive and the Queens Midtown Tunnel."
    5
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LGBTQ Local Legal Protections

Vivian H Gao - Licensed Real Estate Salesperson, Oxford Property Group
242 E 40th St, New York, NY 10016 is a 10 bedroom, 8 bathroom, 4,500 sqft multi-family built in 1920. 242 E 40th St is located in Murray Hill, New York. This property is currently available for sale and was listed by StreetEasy on Sep 11, 2023.