415 Third Ave
New York, NY 10016
Multifamily Property For Sale · 7 Units

415 Third Avenue (a/k/a 201 East 29th Street), a 4-story mixed-use property located on the northeast corner of Third Avenue and East 29th Street in the Kips Bay neighborhood. The 5,844 square foot property’s ground floor retail is leased to Fumo Restaurant. Fumo has three existing locations, 1600 Amsterdam, 1626 2nd Avenue, and 2791 Broadway. The upper floors consist of six apartments, two per floor, with three larger two-bedroom units in the front and three one-bedroom units in the rear. The residential units are newly renovated and have in-unit washer and dryers. 415 Third Avenue stands out prominently on the avenue with its tremendous corner presence and wraparound frontage. Situated amongst numerous underbuilt adjacent buildings, 415 Third Avenue is an integral corner parcel to any future larger development. The property sits in a C2-8 zoning district with an R10 equivalent and is underbuilt, containing approximately 8,793 square feet of unused air rights. The site can hold a maximum of 14,630± buildable square feet for a future mixed-use development.