153 - 157 WEST 23 STREET

For Sale - Manhattan - Chelsea

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Net Operating Income: Contact Agent

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Key Details

Property Type
Mixed Use
Neighborhood
Chelsea
Property Dimensions
54.0 x 86.0
Property Area
68,940 sq.ft.
Total Units:
6
Stories:
12
NOI
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Price
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Listing Description

Cushman & Wakefield (“C&W”) has been exclusively retained by Ownership to offer for sale the 100% leasehold interest in 155 West 23rd Street (the “Property" or “155 W23”). The 82,104-square-foot Property is strategically positioned between Sixth and Seventh Avenues in the coveted, high-growth Chelsea submarket. 155 W23 boasts 100% occupancy across 76,263 square feet of high-end boutique office space and 5,841 square feet of retail space under a long-term NNN master lease. Ownership has invested $15 million since acquisition to fully modernize the infrastructure and further accentuate 155 W23’s diverse tenant roster in the greater millennial-driven Chelsea landscape. In addition to the revamped infrastructure, all of the tenant spaces have been completely rebuilt to cater to the needs of the innovation tenants that continue to focus on this location. The aforementioned modern tenant spaces, along with the tenants’ inherent high renewal probabilities, help dramatically decrease turnover costs for future ownership.

Property Details

Block/Lot:
799/12
Lot Dimensions
60.0 x 98.75
Lot Area
5,925 sq.ft
Zoning:
C6-3X
FAR as Built:
11.64
Max FAR:
9.0
Michael GembeckiCushman & Wakefield
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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