- Year built
- 1930
- Type
- Cooperative
- Units
- 20
- Floors
- 4
- Landmark
- No
- Pets
- Confirm current house rules at offer stage
- Subletting
- Historically permitted; set by board policy — confirm at offer stage
240 East 32nd Street is a small pre-war cooperative in the middle of Kips Bay, mid-block between Second and Third Avenues. Built in 1930, it is a four-story elevator building with just 20 apartments — the kind of quiet, human-scaled co-op that keeps carrying costs sensible and the ownership base settled.
The proposition here is value and location. Kips Bay sits between Gramercy and Murray Hill, close to the NYU Langone medical campus, Trader Joe's, and the crosstown access at 34th Street, with Grand Central a short walk north. For the buyer who wants a genuine pre-war address at an accessible entry point — studios and one-bedrooms rather than trophy layouts — the building is a straightforward, sensibly run choice.
Building operations
The cooperative runs lean for its size: an elevator, a basement laundry room, private storage, and superintendent service, with no full-time doorman — appropriate and cost-efficient for a 20-unit pre-war building, and a meaningful factor in keeping maintenance contained.
As a cooperative, ownership is by shares rather than deed: purchases require board approval and a board interview, financing is capped at a board-set percentage, and pied-à-terre, sublet, gifting, and guarantor arrangements are evaluated case by case. The building has historically permitted subletting. Confirm the current pet policy, financing maximum, any flip tax, and sublet terms with the board at offer stage.
Recent sales
Co-op pricing is read on a per-room basis, and 240 East 32nd trades as an entry-level pre-war cooperative — modest carrying costs and the value a co-op structure offers relative to condominiums. With only 20 residences and a studio/one-bedroom mix, resale volume is thin, with a small number of closings in an active year. When underwriting a purchase or a list price, capture the room count, the floor, the exposure, and renovation condition rather than relying on a neighborhood average. Genuinely variable financial figures should be confirmed at offer stage.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Recent transfers at this building, sourced from NYC Department of Finance records. Apartment-level detail (line, condition, asking-price context) verified upon consultation request.
| Date | Unit | Price |
|---|---|---|
| May 14, 2026 | 4E | $1,250,000 |
| Jun 10, 2022 | 4B | $699,000 |
| Aug 1, 2019 | 4B | $580,000 |
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00912-0043) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price.
What to know if you’re buying
This is a cooperative, so the path is a board package and interview, a financing cap set by the board, and underwriting of the building's financials and house rules. Read the rules on the points that matter to you — the pet policy, financing maximum, and sublet terms — and review the co-op's reserve and any planned capital work given the building's age. The reasons to buy are the address and the value: a real pre-war Kips Bay co-op at a cost structure well below the doorman condominiums nearby.
What to know if you’re selling
The story is the pre-war character and the price point. The 1930 architecture, the intimate 20-unit scale, and the central Kips Bay location sell to a specific buyer who wants a pre-war address without a trophy budget. Pricing is an apartment-specific exercise: room count, floor, light, and condition drive the number more than any block average. We position the building's flexible ownership policies, prepare the buyer for the co-op process, and benchmark against the right comparable tier of boutique pre-war cooperatives.
Comparable buildings
If you're considering 240 East 32nd Street, also look at these nearby Gramercy, Kips Bay, and Murray Hill buildings:
- 151 East 20th Street — boutique building in the Gramercy corridor
- 324 East 35th Street — pre-war cooperative nearby
- 105 East 19th Street — pre-war Gramercy cooperative
- 434 East 58th Street — boutique cooperative nearby
The Roebling Team at 240 East 32nd Street
The Roebling Team at Compass specializes in Manhattan's pre-war cooperative and condominium market. We publish this profile because buyers and sellers of boutique pre-war cooperatives deserve building-specific intelligence — the architecture and neighborhood context, the cooperative structure, the staffing and amenity reality, and where pricing sits against the right comparable tier.
If you're weighing a purchase or sale at 240 East 32nd Street, a 30-minute consultation is the right starting point.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
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