roofy
For saleHouseNewScore 69

8-bedroom house for sale in Murray Hill-Kips Bay

242 E 40th St, Murray Hill-Kips Bay, Manhattan, New York, NY, 10016

$3,500,000
Asking price · in USD
Bedrooms
8: 8+ bedroom homes for sale in ZIP 10016
Bathrooms
7: Homes with 7+ bathrooms for sale in ZIP 10016
Size
4,500 ft² (418 m²)
Type
House: Houses for sale in ZIP 10016
Available
Now
Year built
1920: Building details

About this home

House for sale in Murray Hill-Kips Bay, Manhattan: 8 bedrooms, 7 bathrooms, 4,500 ft². Asking price $3,500,000. Built in 1920.

From the original listing · Realtor.comShow

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.

Description from Realtor.com, shown as published there. See the original listing

Roofy listing score

Grade C, 69/100 · Fairly complete

How complete and honest this listing is, from what the source sites show and Roofy’s own checks. It isn’t a rating of the home or the agent. How the score works

  • Photos25/25
    • Full points: 13 photos15/15
    • Full points: Large, clear photos (about 1,000 px)10/10
  • Details15/20
    • Full points: Price stated3/3
    • Full points: Bedrooms stated2/2
    • Full points: Bathrooms stated2/2
    • Full points: Size stated2/2
    • Does not apply: Move-in date: does not apply2/2
    • Does not apply: Lease length: does not apply1/1
    • No points: No pet policy0/1
    • No points: Laundry not mentioned0/1
    • No points: Heat and utilities not mentioned0/1
    • No points: No amenities listed0/2
    • Full points: Description of 208 words3/3
  • True cost11/15
    • Full points: Running costs stated (HOA, service charge or taxes)8/8
    • Some points: Priced 40% below similar homes in its ZIP code3/7
  • Accuracy12/15
    • Nothing to compare: Listed on one site, nothing to compare3/6
    • Full points: Agrees with city records (built 1920, 7 homes)5/5
    • Full points: Confirmed on its source site 3 days ago4/4
  • Legal6/10
    • Full points: No fair-housing problems found in the wording6/6
    • Problem: The agent’s license is not active0/4
  • Trust0/15
    • No points: Not claimed on Roofy by the agent or owner0/10
    • No points: The agent is not verified on Roofy0/5

Listed this home? Claim your agent page to add the trust points.

Scored Nov 2, 2026 · Score version 1. No one can pay to change a score.

Buying costs

What this price means for you: the monthly payment, and New York’s mansion tax, which the buyer pays on a home of $1 million or more.

Estimate the monthly payment Mansion tax on this price

Compared with the area

Asks $3,500,000, 40% below the median asking price for homes for sale with 4+ bedrooms in 10016.

Median here
$5,874,975
10 listings, last 90 days

Priced far below similar homes here. Check the price before you trust it.

Asking prices of listings on Roofy and listing sites in the last 90 days, not signed leases or sale prices. One currency, never converted.

More about 10016

Location

Location as the listing shows it.Open in Google Maps

Nearby transit

  • Grand Central-42 St4 5 6 7 S7 min walk
  • Grand Central (Metro-North)Danbury Harlem Hudson New Canaan New Haven9 min walk
  • East 34th Street (NYC Ferry)Astoria East River Rockaway-Soundview South Brooklyn9 min walk

Nearby public schools · District 2

Distance only, not school zones. Check the zoned school with NYC Public Schools.

The building

7 units · 4 floors · built 1920

Building record (NYC)

NYC records as of Nov 1 (weekly)

242 East 40 Street · BBL 1-00920-0041 · built 1920 · 7 units

Roofy building score 97/100 · Well keptAbout the building, from HPD violations. Not an inspection.
Building type
Walk-up apartment building
Open HPD violations
None
Heat complaints
0 this season
Complaints, last 12 months
0
Rent stabilization
Had 2 units in 2024 tax bills (likely)
Last sale (12-month file)
No sales in our 12-month file

No open immediately hazardous (Class C) violations.

See the full building record

Public NYC records about the building, not about the person listing it. Buyers and renters can see them on city websites too. Source: NYC Open Data (DCP PLUTO, HPD, DOF).

Added to Roofy Oct 29, 2026Last checked on Realtor.com Oct 29, 2026Roofy doesn’t verify listings. Never send money before seeing a home.

Similar homes nearby

More homes like this for sale in ZIP 10016 →

From Troy Gordon

Troy Gordon’s page →