159 9 AVENUE

For Sale - Manhattan - Chelsea

$8,300,000

Net Operating Income: Contact Agent

Ic expand

Key Details

Property Type
Mixed Use
Neighborhood
Chelsea
Property Dimensions
26.0 x 94.0
Property Area
6,032 sq.ft.
Total Units:
4
Stories:
5
NOI
Contact Agent
Price
$8,300,000
Price Per Unit
$2,075,000
Cap Rate
-%

Listing Description

Avison Young has been exclusively engaged by Ownership to offer for sale 159 9th Avenue, a five-story mixed-use building located on the border of the desirable Chelsea and Meatpacking District neighborhoods of Manhattan. 159 9th Avenue (the “Property” or “Site”) spans 7,586 square feet and is configured as three free market three-bedroom residential units over a ground floor plus mezzanine retail unit. The building sits in an R8 zone with a C2-5 overlay, offering 8,216 square feet of additional residential air rights (15,803 bsf total). In addition, the Property is adjacent to a public playground, offering tremendous light and air. Located on the west site 9th Avenue between 19th and 20th streets, the property is within walking distance of some of Manhattan’s most desirable restaurants, attractions, and nightlife such as Chelsea Market, the Highline, Standard Hotel and Whitney Museum. There is also incredible access to public transportation with the A/C/E train service at 23rd Street and 1/2 train service at 18th Street. This is a great opportunity to acquire an investment property with in-place cash flow and immediate upside in retail and residential rents. Alternatively, 159 9th Avenue serves as an excellent home for a residential user or retail/gallery flagship.

Property Details

Block/Lot:
717/39
Lot Dimensions
26.25 x 100.0
Lot Area
2,627 sq.ft
Zoning:
R8
FAR as Built:
2.3
Max FAR:
6.5
Bradley RothschildAvison Young
Contact Agent View Setup

Sales & Transactions

AddressSale PriceSale DateProperty Type
203 10TH AVENUE$22,318,32007/12/2018Mixed Use
159 WEST 23RD STREET$7,000,00004/17/2018Mixed Use
125 WEST 16TH STREET$41,409,87904/05/2018Mixed Use
192 8 AVENUE$8,250,00012/16/2016Mixed Use
559 WEST 23RD STREET$4,600,00011/29/2016Mixed Use
130 TENTH AVENUE$10,581,81811/04/2016Mixed Use
155 WEST 18TH$2,341,97510/28/2016Mixed Use
137 WEST 19TH STREET$10,500,00009/30/2016Mixed Use
161 8 AVENUE$4,060,00008/30/2016Mixed Use
235 NINTH AVENUE$800,00008/23/2016Mixed Use