Update — June 2018: The rail has been removed.
Nine-stair round rail and a six stair out front.
Bust — ♦♦♦♦♦: Maintenance workers from the building will inevitably come out and tell you to leave. People upstairs might also throw stuff (eggs, etc.) at you out their windows, especially if you come here at night.
Location: 28th Street and First Avenue in Kips Bay. Take the 4, 5 or 6 to 23rd Street, skate east on 23rd until you reach 1st Avenue, make a left and skate north and you will eventually see it on the west side of the street.
Pictures (Click to Enlarge):