HIGHLIGHTS
- Prime Chelsea Location: Located on a desirable residential block between Seventh and Eighth Avenues, offering long-term demand fundamentals
- Scale + Income Stability: 47 residential units across four stories with 100% occupancy, generating immediate and diversified income across stabilized
- Renovated Inventory with Upside: 25 of 26 free market units and 10 of 21 rent-stabilized units have been renovated.
- Development Optionality: 6,482 SF of unused air rights allows for future vertical expansion or repositioning
- Long-Term Hold with Embedded Value: A well-located, high-occupancy multifamily asset with in-place cash flow, near-term rent growth opportunities
FOR SALE DETAILS
PRICE
$14,500,000 USD
PRICE/SF
$1,222 USD /SF
# OF UNITS
47
PRICE/UNIT
$308,511
CAP RATE
Request Cap Rate
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Mid-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
4
YEAR BUILT
1920
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.11 AC
LAND SF
4,948 SF
ZONING
R8B
APN/PARCEL ID
0770-0045
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646-868-0013
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646-868-0013
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