47 E 29th St - Storefront Retail/Residential FOR SALE


New York, NY 10016- NoMad
$4,575,000 USD
212-776-4367
47 E 29th St, New York, NY for Sale
$4,575,000 USD
Storefront Retail/Residential - FOR SALE
1/15
null | Request Cap Rate

NEW


47 E 29th St
New York, NY 10016
NoMad


HIGHLIGHTS

  • Centered in the thriving Park Avenue South Corridor
  • Consistent traffic of affluent residents, office users, tourists, and nightlife
  • Turnkey hospitality foundation

OVERVIEW

Positioned in the heart of NoMad, 47 East 29th Street presents a rare opportunity to acquire a fully built, single-occupancy hospitality asset centered in the thriving Park Avenue South Corridor. Currently operating as Tavern 29, the property is ideally suited for an owner/operator, restaurant group, or experiential hospitality brand seeking to reposition an established venue with substantial existing infrastructure. The building consists of approximately 6,950 rentable square feet across multiple levels, including a ground-floor bar and dining room, second-floor lounge, and roof terrace. The property is fully vented and delivered with an operational commercial kitchen, substantial prep and storage areas, and three walk-in refrigerators. The existing certificate of occupancy permits up to 208 patrons, creating exceptional flexibility for restaurant, bar, private events, or branded hospitality concepts. The surrounding neighborhood continues to experience significant growth driven by nearby luxury residential and hotel development, including The Royalton Park Avenue Hotel, The Ritz-Carlton NoMad, Virgin Hotels New York City, The Fifth Avenue Hotel, and the Ace Hotel. This dynamic live-work-play environment has transformed NoMad into one of Manhattan’s most desirable hospitality destinations and benefits from a constant mix of affluent residents, office users, tourists, and nightlife traffic. 47 East 29th Street offers a turnkey foundation with significant replacement-cost value already embedded in the asset. The combination of existing infrastructure, rooftop amenities, multi-level guest experience, and prime NoMad positioning creates a compelling opportunity for an operator or investor to capitalize on one of New York City’s strongest hospitality submarkets. The property’s efficient layout provides the framework for a flagship concept with immediate operational capability and long-term upside potential.

FOR SALE DETAILS

PRICE

$4,575,000 USD

PRICE/SF

$1,207 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Bar, Restaurant

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1915

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,200 SF

ZONING

C5-2

APN/PARCEL ID

0859-0036

ASK ABOUT THIS PROPERTY

Louis PuopoloDouglas Elliman Commercial Real EstateMore Info
212-776-4367

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Louis PuopoloDouglas Elliman Commercial Real EstateMore Info
212-776-4367

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