245 W 14th St - Apartments CONDO FOR SALE


New York, NY 10011- Chelsea
$3,850,000 USD
212-916-2932
245 W 14th St, New York, NY for Sale
$3,850,000 USD
Apartments CONDO - FOR SALE
1/6
null | 7.14% Cap Rate

245 W 14th St
New York, NY 10011
Chelsea


HIGHLIGHTS

  • Fully leased retail condo with over 8 years of WALT.
  • Positioned at the base of a luxury residential building.
  • Prime Chelsea location near West Village and Meatpacking.
  • 35 feet of high-visibility frontage on West 14th Street.
  • Tenant pays market rent and full tax contribution.
  • Steps from multiple subway lines and major foot traffic.

OVERVIEW

Located at the vibrant crossroads of Chelsea, the West Village, and the Meatpacking District, 245 W 14th Street presents a rare opportunity to acquire a fully leased retail condominium in one of Manhattan’s most dynamic corridors. This 4,318 SF retail asset—comprised of 3,964 SF above grade and 354 SF below grade—is positioned at the base of a 12-story luxury residential building constructed in 2015, offering a modern and well-maintained physical condition. The property boasts approximately 35 feet of prime frontage along West 14th Street, a high-traffic retail artery flanked by multiple subway stations and surrounded by a dense mix of residential, retail, and cultural destinations. Its strategic location ensures maximum visibility and consistent foot traffic, enhancing long-term tenant performance and asset value. Ocean Wireless Corp occupies the entire space under a market-rate lease through September 2033, contributing $103/SF in base rent and covering 100% of taxes over the base year. With over eight years of remaining weighted average lease term (WALT), the asset delivers stable cash flow and minimal management burden. The projected net operating income stands at $274,776, supported by a gross annual income of $410,925 and modest operating expenses. This offering is ideal for investors seeking a turnkey retail asset with strong in-place income, long-term tenancy, and exceptional location fundamentals in a supply-constrained submarket.

FOR SALE DETAILS

PRICE

$3,850,000 USD

PRICE/SF

$971 USD /SF

CAP RATE

7.14%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Village Green West

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

38,162 SF

STORIES

12

BUILDING CLASS

B

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

C6-2A

APN/PARCEL ID

0764-1215,0764-1217,0764-1228

ASK ABOUT THIS PROPERTY

Maurice SuedeNewmarkMore Info
212-916-2932

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Maurice SuedeNewmarkMore Info
212-916-2932

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.