West 17th Street, Chelsea NYC. for sale $8,000,000

Call us: 212-581-3003
Description

10,500 sf, Mixed-Use Investment Building for sale, Live Plus Income Building A 6 story, 20f wide, 5 unit (restaurant, 3 commercial floors and a residential duplex), mixed-use building, located in the Chelsea Neighborhood. Erected in 2000, the subject property is located on the north side of West 17th Street, contains a total above grade square footage of approximately 10,500 sf. The building consists of a turn-key restaurant on the ground floor and basement with a lease until 11/14 and its current rent is $174,000 per annum, loft-type commercial floor-through units on the 2nd, 3rd and 4th floors, and a residential duplex with a 20f deck off the 5th floor rear and access to a wooden rooftop area. The 3rd floor commercial tenant has a lease until 12/12 The building is zoned C6-2A which is an R8A equivalent with an FAR of 6.02, allowing approximately 1,900 square feet of available air rights. All units have great light and 10f ceilings, with the exception of the 2nd floor which has 12f ceilings. Actual/Projected Revenue: $538,400 (Appx.), Projected Net Operating Income: $565,000 (Appx.). Given that 4 floors can be delivered vacant the building poses an excellent opportunity for a user/converter. Asking Price: $8 mil
 

Size:
  • 10,500 sf
Price: $8,000,000
For sale