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No HOA
Street View
$3,500,000
Monthly Est:$17,421
8 Beds
7 Baths7 full baths
4,500sqft
242 E 40th Street, New York City, NY 10016
$3,500,000
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Mixed Use
Built in 1920
$-- HOA
1,778 sqft lot
$778/sq.ft
Description
242 East 40th Street | Murray Hill | $3,500,000
A prewar (1920) five-story mixed-use building between Second and Third Avenues, a short walk from Grand Central and the 4/5/6/7 trains.
• Size (per PropertyShark): About 4,498 SF built, on an 18' × 53' footprint across 5 stories, including the ground-floor retail. The lot is 18' × 99'.
• Pricing : $778/SF on 4,498 SF built, or $264 per buildable SF on 13,282 SF, both per PropertyShark.
• Units : 8 Units total. 7 residential units plus a ground-floor restaurant, 100% occupied. Floors 1–3 each have a studio and a one-bedroom, and the top floor is a two-bedroom.
• Rent status : 5 of the residential units are free market and 2 are rent-stabilized. Commercial rented.
• Income: About $203,000 in current NOI, roughly a 5.8% cap rate at asking. Units are separately metered for electric, which tenants pay, and the restaurant covers part of the real estate taxes.
• Zoning : C1-9 / R10.
• Development upside: 13,282 SF maximum buildable, per PropertyShark. That leaves about 8,784 SF of unused development rights, subject to architect confirmation.
Stable income today, with room to grow later. Rent roll and operating statement available on request.
- Houzeo last checked: 2 hours ago
- Listing updated: October 5, 2026 at 3:43 pm
- Listing Provided by: Troy Nathan Kenneth Gordon (917) 868-5696 | Compass (212) 913-9058
- Source: Rebny MLS-NY | MLS#: RLS20119220
Property Details
Status
Active
Type
Single Family Residence
No. of Stories
5
County
City
Neighborhood
--
Year Built
1920
HOA Fees
-
Finished Area
4,500 sqft
Lot Size
1,778 sqft lot
Basement Area
- sqft
MLS Name
Rebny MLS
MLS Number
RLS20119220
Days on Market
3
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 8
Bathrooms: 7
Interior
Exterior Features
Private Outdoor Space Over60sqft
Flooring
Hardwood
Heating
Natural Gas
Interior Features
Eat In Kitchen
Construction
Year Built
Year Built: 1920
Home type
Mixed Use
Architectural Style
Walk Up
Utilities & Energy
Laundry Features
See Remarks
Basement
Partial
Other Features
Subdivision Name
Murray Hill
Price History
| Date | Event | Price |
|---|---|---|
10/05/2026 Source: | Listed for Sale | $3,500,000 $778/sqft |
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The real estate listing data marked with this icon comes from the IDX program of the RLS at REBNY Listing Service (RLS). Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS") through Oct 09, 2026, 12:00PM. Information deemed reliable but not guaranteed. Information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Buyer to verify all information. © 2026 The Real Estate Board of New York, Inc. All rights reserved.
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