170 31st Street
$4,800,000
MLS# RLS20124057 · Greenwood Heights
Listed November 4, 2026 · New today
20 Beds 20 Baths 18,000 Sq.Ft.
About This Property
170 31st Street is a four-story brick mixed-use building on the corner of 4th Avenue and 31st Street. It has 18,000 square feet, 19 apartments and four ground-floor storefronts, and it’s being offered for the first time in many years.
The corner location gives the building frontage on two streets. The four storefronts face busy 4th Avenue and bring in $15,300 a month, about a third of gross income. The retail leases expire at staggered dates from 2027 through 2035, and one has built-in annual increases.
Upstairs, 19 rent-stabilized apartments provide steady, dependable income, and rents can rise within legal limits as leases renew. Gas is individually metered and the electric is separately metered. The building also has its original decorative brickwork, and the R train is a few blocks away at both 25th Street and 36th Street.
Gross income is $546,322 a year. The building is offered at a 6.32% cap rate (stabilized) and a 8.79× gross rent multiple, which works out to $267 per square foot and about $209,000 per unit.
It’s a long-held, well-located asset with income from both retail and residential tenants.
For the full offering memorandum, including the rent roll, lease terms and financials, contact the sales team:
Curtis Bain
Brown Harris Stevens
Estimate
Monthly Cost & Closing Costs
The rate is a placeholder, not a quote. Enter the one your lender gives you.
$31,036 / month
- Principal and interest$24,271
- Property taxes$6,765
Due at closing
- Down payment (20%)$960,000
- NYS “mansion tax” (1.5%)$72,000
- Mortgage recording tax (1.925%)$73,920
Not included: attorney, title insurance, lender and appraisal fees, board application and move-in fees, flip tax and prepaid items. Estimates only, based on the published New York State rates. Your attorney and lender will confirm the real figures.
Gallery
Property Photos
Listing Courtesy of Compass
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