339-788-1641
108-110 Ninth Ave, New York, NY for Sale
Apartments - FOR SALE
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108-110 Ninth Ave
New York, NY 10011
Chelsea


OVERVIEW

Jones Lang LaSalle (“JLL”) has been exclusively retained to arrange the sale of 108–110 9th Avenue (the “Property”), two adjacent 5-story mixed use buildings situated on the northeast corner of 9th Avenue and West 17th Street in the heart of Chelsea, Manhattan. The Property contains 22,617 total gross square feet and 38 total units, inclusive of 34 residential units and 4 ground-floor retail spaces, offering investors a stable in-place cash flow with meaningful upside through the eventual turnover of regulated units and mark-to-market opportunities within the free market component. The residential unit mix comprises 23 free-market units, 2 rent-stabilized market units, 7 rent-stabilized units, and 2 rent-controlled units. This diversified composition provides a stable income base with long-term upside potential as the units are repositioned and renovated. Current free-market rents average approximately $5,213 per month, with strong demand for one- and two-bedroom layouts supporting continued rental growth. Of the 23 free-market units, 7 are one-bedroom and 16 are two bedroom configurations, a well-balanced distribution that aligns with neighborhood demand and caters effectively to the young professional demographic drawn to the area, particularly due to its proximity to major employers such as Google. The property features four retail spaces, three of which are currently leased, with one becoming available. The largest, a prominent corner unit, is occupied by Alaska Food Market under a lease extending through February 2034. Adjacent to this space is Foreign Convenience & More, a smoke shop with a lease in place through August 2031. An additional retail unit, positioned along West 17th Street just off the avenue, is leased to Locanut, a health-focused café, through January 2030. This stretch of Ninth Avenue in Chelsea is defined by a vibrant mix of neighborhood serving and destination retail, benefiting from steady foot traffic driven by nearby residential density and proximity to the High Line. The corridor’s strong blend of food, service, and convenience-oriented tenants reinforces consistent demand and long-term viability for retail operators. Situated in the heart of Chelsea, the property benefits from a dynamic and highly desirable neighborhood known for its vibrant dining and nightlife scene, with an eclectic mix of acclaimed restaurants, cafés, and bars. The area is further enhanced by its proximity to cultural destinations such as the High Line, Chelsea Market, and numerous art galleries, offering a rich blend of lifestyle amenities. Residents enjoy excellent transportation access, with nearby subway service at the 14th Street–8th Avenue station (A C E L) and 18th Street station (1 2), as well as convenient bus routes, providing seamless connectivity throughout Manhattan.

FOR SALE DETAILS

PRICE

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# OF UNITS

34

CAP RATE

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% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,262 SF

ZONING

R8/ C2-6A

APN/PARCEL ID

0741-0001,0741-0002

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339-788-1641

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339-788-1641

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