Sale Price: $6,350,000
Price/SF: $857.18
Cap Rate: 5.75%
RBA: 7,408 SF
% Leased: 100%
Land Area: 0.04 AC
Typ Floor Size: 1,500 SF
Investment Notes:
Rare investment / development / user opportunity for sale on Prime West Chelsea corner!! 559
West 22nd street is an approximately 7400 sqft mixed use property built full on a 25 foot by 75 foot
lot. The property zoned C6-3 with an R9 overlay lies in the West Chelsea Highline district which
permits Total buildlable square footage of up to 13,500 square feet and allows for commercial or
residential use.
This four story former SRO is uniquely situated at the intersection of gallery lined West 22nd Street,
Eleventh Avenue and the West Side Highway, steps from the Highline and across from the Chelsea
Waterside Park and new Pier 62 Skatepark. Every floor has protected western views overlooking
the Hudson River, parklands and beautiful sunsets.
The property has a fully fixtured, turnkey restaurant on the 1st floor, a renovated art gallery/ office
space on the 2nd floor, a vacant 3rd floor loft, and 8 single occupancy rooms with 3 Rent regulated
tenants remaining on the 4th floor.
A new owner can re lease out the building as is for an attractive return, reposition, develop or use the
property.
The thousands of cars that drive by daily are excellent exposure for a user tenant or user owner -
Hewlett Packard recently leased the building across the street for a new brand concept highway
location.
The property is sold as is subject to existing tenancy.
Projected Gross income of approx $475,000.
Please Email for Full property setup
HIGHLIGHTS:
• Amazing CORNER location on prime West Chelsea Highline block.
• Protected River and Park views
• Excellent user opportunity
• Strong income potential
• Flexible zoning
• Air Rights!
