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RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

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  1. Home
  2. Buy
  3. New York City
  4. Manhattan
  5. 10016
  6. 151 East 29th Street
Property thumbnail
1 / 32
•Kips Bay

151 East 29th Street, New York City, NY 10016

Listing Courtesy of Compass

$3,750,000

Potential Rebate: $56,250

5 Beds
4 Baths
11 Rooms
2,622 sqft
Built 1901
4 Stories
1,430/ft²
Listed on Dec 17, 2025
9 days on market
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Overview

TWO-FAMILY TOWNHOUSE OFFERING EXPANSION POTENTIAL AND PRIVATE OUTDOOR SPACES

Situated on a quiet block between Third and Lexington Avenues, 151 East 29th Street is a beautiful two-family townhouse offering immediate usability and meaningful upside. With approximately 2500 square feet of unutilized air rights (to be independently confirmed), the property provides an opportunity for future growth while already generating strong rental income.

The home is configured as a legal two-family residence J-3 consisting of a newly created & remodeled duplex in Unit 1 producing $6,800/month. A spacious triplex, unrenovated, in Unit 2 currently listed at $10,000/month. Each apartment enjoys its own private outdoor area.

New mechanical system as of 2024, including sealed lower level with new electric and gas connection to the home. Details to be provided if interested. The mechanicals room & storage has a separate entrance. There is an app controlled video doorbell for each unit.

Whether purchased as an income-supported primary residence or as a long-term asset, both with significant expansion potential internally & externally, this townhouse offers versatility in a central Manhattan location.

UNIT 1: MODERN DUPLEX WITH GARDEN RETREAT

Unit 1 is a beautifully conceived two-bathroom, one-bedroom duplex offering approximately 1041 interior square feet and a peaceful 480-square-foot private garden. High ceilings, a striking glass partition wall, and access to outdoor space from both levels create a bright and airy feel. It is totally new innards and materials & appliances as of 2024,

The upper level bedroom accommodates a king bed or bunk beds and includes an en-suite Carrara marble bathroom with a soaking tub. The kitchen, finished with premium appliances and Carrara counters, opens directly onto the garden for effortless indoor–outdoor living.

The lower level features a flexible suite with generous closets, two built-in workstations, and a Carrara marble bathroom with a walk-in shower. This floor also includes a full-size WASHER/DRYER in its own laundry room and maintains a comfortable 7'3" ceiling height. The glass door can remain open for light and flow or be fitted with a privacy curtain.

Thoughtfully designed with functionality in mind, Unit 1 offers both convenience and serenity.

UNIT 2: SPACIOUS TRIPLEX WITH PRIVATE TERRACE

Unit 2 extends across three full floors, beginning with a nearly 50-foot-long open living and dining level that leads to a private terrace off the large eat-in kitchen, offering approximately 1581 interior square feet . The scale and flow of this level allow for multiple living arrangements and abundant natural light.

The two upper floors each offer two spacious bedrooms and one full bathroom, providing excellent separation and flexibility. An oval SKYLIGHT brightens the top floor and staircase, enhancing the sense of openness throughout the home.

Exposed brick, recessed lighting, and high ceilings contribute to the home's character, while extensive closet space and an in-unit WASHER/DRYER support everyday comfort.

With outdoor space and generous proportions, Unit 2 is an exceptional triplex residence offering room to grow and live comfortably in the heart of Manhattan.

Home Features

  • •Central Air
  • •In Unit
  • •See Remarks
  • •Private Outdoor Space Over 60 Sqft
  • •Built-in Features
  • •Eat-in Kitchen
  • •Soaking Tub
  • •Dryer

Estimated Monthly Payment

$21,594 per month

30 year fixed, 6.28% Interest

Principal and Interest
$18,530
Property Taxes
$3,064
Maintenance/Common Charges
$0

Estimated Rebate for this Home

One-time rebate at closing

$56,250

Monthly savings impact

$156/mo

💡 Estimated at 1.5% of purchase price

The rebate is paid to you at closing and can help offset closing costs or other expenses.

Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).

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Listings

RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

The Real Estate Rebate Team

Listing Courtesy of Compass

Data Source: TRESTLE #RLS20056372

REBNY Logo

Price Analysis

Compare average listing prices and value metrics for 151 East 29th Street against the surrounding Kips Bay market.

Based on 1 active units in building vs 104 in area

Average List Price

Building$3.8M
Neighborhood$1.4M

Price Per SqFt

Building Avg$1,430/ft²
Neighborhood Avg$15,447/ft²
Value Opportunity

90.74% Lower

than the Kips Bay price-per-sq-ft average

Units in this building are listed below the neighborhood average, potentially offering better value per square foot compared to surrounding properties.

Kips Bay

Medical Mile & Value

\n

Kips Bay is a practical, residential neighborhood dominated by medical institutions (NYU Langone).

\n

Real Estate & Housing Market

\n

Post-war high-rises and condos. Often offers better value/space than Murray Hill or Gramercy.

\n

Lifestyle & Community

\n

Doctors, nurses, and recent grads. It is functional and convenient. Fairway Market is a hub.

\n

Transportation & Accessibility

\n

6 train at 28th/33rd. 2nd Ave subway is not here yet. Ferry at 34th St.

\n

Parks, Schools & Amenities

\n

East River Esplanade. AMC Kips Bay theater.

\n

Who This Neighborhood Is Best For

\n

Best for medical professionals and renters looking for value.

Kips Bay GuideAll Neighborhoods
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