$25,950,000
Updated 7 years ago
Off Market

246-248 Tenth Ave

Chelsea, Manhattan | West 24th Street & West 25th Street

19,721 Square FeetIncome Property

$25,950,000
floors / apts6 / 15
Lot Size49'7"x100'
Built Size49'7"x100'
ZoneR7B
Building TypeLow-Rise
RE Taxes$240,914
Price Per SF
$1,316

Outdoor space and views

  • Terrace

Building Amenities

  • Voice Intercom

Property Description for 246-248 Tenth Ave

246-248 Tenth Avenue are two contiguous mixed-use walkup buildings in the heart of West Chelsea. Recently renovated inside and out, these two buildings feature 15 apartments, of which, 14 will be free market (FM) and one is currently rent stabilized (RS). The free market apartments feature updated finishes and appliances in addition to spacious terraces for all 2BR and 3BR units. Residential rents currently average approx. $58/SF in a market that commands pricing well above $85/SF. The ground floor has been home to classic Tuscan restaurant Bottino since 1996. They recently signed a 15-year extension with a starting rent of $122/SF and currently pay a portion of the real estate taxes. Recent upgrades to the buildings include two new gas boilers and hot water tanks. The property also benefits from additional income from a cellular roof antenna. With a prime location across the street from the High Line and prestigious Avenues School, 246-248 Tenth Avenue is ideal for a long-term neighborhood investor or foreign purchaser seeking a low maintenance asset.

Building Details for 246-248 Tenth Ave

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts6/15
Learn More About the Building

Transit and Citi Bike

Subway

23 St
0.32 miles
23 St
0.5 miles

Citi Bike

W 26 St & 10 Ave
0.09 miles
W 22 St & 10 Ave
0.13 miles

Contact Agents

Contact Agents

Chelsea | Manhattan

Quick Profile

The row houses portray the world-class architecture of Greek Revival, Italianate and Georgian styles. The population is both ethnically and socially diverse, which is reflected in the restaurants and retail businesses in the neighborhood. 

Western Chelsea is the center of the NYC art world, where you will find more than 200 art galleries housed in rehabbed factories and warehouses, as well as in newly-constructed buildings.

While people of many different cultures call Chelsea home, it has been a mecca over the years for people in the LGBTQ community. One census reported that as many as 22% of its residents were gay couples. Eighth Avenue is a trendy area for LGBTQ-oriented dining and shopping. Although it no longer draws the LGBTQ population that it once did, Chelsea still has many popular alternative bars.  

Chelsea is primarily residential, consisting of a mixture of diverse complexes, low-rise apartment blocks, tenements, townhouses, renovated row houses, and luxury high-rises. 

Chelsea is an interesting and sought-after place to live, with unique clothing boutiques, restaurants, and delis representing cultures from around the world. In addition to its quirky establishments, Chelsea has fine dining restaurants and a vibrant, hip nightlife, which adds to its allure.

Chelsea is well-served by public transportation. At least six city bus routes traverse Chelsea. There are three NYC subway routes with stops on Seventh Avenue, three on Eighth Avenue, and two more on Sixth Avenue. The 34th Street - Hudson Yards Station opened in 2015 with its main entrance in Chelsea.  

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 75208TH