New Empire Corp. Acquires Nursing Facility In Kips Bay, Manhattan For $14.8M

A nursing facility located at 429-437 2nd Avenue in Kips Bay, Manhattan has been sold for a price of $14,800,000. The property, which is zoned as C1-8A, spans a lot size of 39.5 ft x 60.58 ft. It offers a total square footage of 17,033, with a price per square foot of $868. The building has a built-up area of 45,007 square feet, resulting in a price per built-up square foot of $328. The transaction took place on August 24, 2021, with James Speiser as the seller and the buyer being @NewEmpireCorp.Bentley_Zhao.

Summary of transaction details

• Property Type: Nursing Facility
• Transaction Amount: $14,800,000
• Address: 429-437 2nd Avenue, Kips Bay, Manhattan
• Market: Kips Bay, Manhattan
• Zoning: C1-8A
• Lot Size: 39.5 ft x 60.58 ft
• Square Footage: 17,033
• Price per Square Foot: $868
• Built-up Square Footage: 45,007
• Price per Built-up Square Foot: $328

The buyer, @NewEmpireCorp.Bentley_Zhao, acquired the nursing facility from James Speiser. This transaction represents a significant deal in the Kips Bay, Manhattan market and highlights the demand for healthcare-related properties. The involvement of @NewEmpireCorp.Bentley_Zhao, a prominent player in the industry, further adds to the significance of this sale.