Updated 8 years ago
Off Market
123 West 20th Street
Chelsea, Manhattan | Ave of the Americas & Seventh Ave
25,287 Square FeetMixed Use
$30,000,000
floors / apts5 / 5
Lot Size45'7"x92'
Built Size45'7" wide
ZoneC6-3A
Building TypeLoft
RE Taxes$162,321
Price Per SF
$1,186
Outdoor space and views
- Balcony
- Terrace
Building Amenities
- Voice Intercom
- Elevator
Property Description for 123 West 20th Street
This Mix Use Building offers a variety of layouts. Every unit is equipped with its very own completely separate boiler room, and has dedicated electrical panels with separate meters for both electric and gas, making this the perfect opportunity for an investor to easily convert into condominiums.
The building has a flat roof with existing I-Beams exposed. This way any investor who is interested in building up to maximize their air rights may easily do so.
All 5 residential high ceiling loft units are Free Market. 3 of the units are owner occupied. Building will be delivered vacant. The remaining 2 units have leases that expire on May 31, 2019.
1E Commercial Retail w/Basement
Water/sewer bill is sub-metered and pays twice a year. Buyout clause is $400K with an 18 month notice.
Gross Square Footage2,000 sq.ft.
Basement 1,600 sq.ft.
Increase3%
Projected Monthly Rent $16,480
Projected Annual $197,760
Unit 1W
Type: Commercial Retail w/Basement
pays $200 water/sewer every month. Buyout clause is $300K with 1 year notice.
Gross Square Footage: 2,000 sq.ft.
Basement: 1,200 sq.ft.
Increase:3%
Projected Monthly Rent: $16,480
Projected Annual: $197,760
Unit 2E
Type: Commercial Office Suite w/Terrace
pays $100 water/sewer every month along with rent. Buyout clause is $100K with 1 year notice.
Gross Square Footage:1,600 sq.ft.
Outdoor: 250 sq.ft.
Increase:3%
Projected Monthly Rent:$8,137
Projected Annual:$97,644
Unit 2W
Type: Commercial Office Suite w/Terrace
pays $50 water/sewer every month and has no buyout clause.
Gross Square Footage: 1,600 sq.ft.
Outdoor: 250 sq.ft.
Increase:0%
Projected Monthly Rent: $7,900
Projected Annual:$94,800
Unit 3E
Type: Residential 2 Bed/1 Bath Loft w/Balcony
Gross Square Footage:1,600 sq.ft.
Outdoor: 250 sq.ft.
Projected Monthly Rent:$8,000
Projected Annual:$96,000
Unit 3W
Type: Residential 3 Bed/1 Bath Loft w/Balcony
Gross Square Footage:1,600 sq.ft.
Outdoor: 250 sq.ft.
Projected Monthly Rent:$8,000
Projected Annual:$96,000
Unit 4
Type: Residential 3 Bed/1 Bath Loft
Gross Square Footage: 3,200 sq.ft.
Projected Monthly Rent:$16,000
Projected Annual: $192,000
Unit 5E
Type: Residential 2 Bed/2 Bath Loft
Gross Square Footage:1,600 sq.ft.
Increase:$100 Per Year
Projected Monthly Rent:$8,000
Projected Annual:$96,000
Unit 5W
Type: Residential 2 Bed/2 Bath Loft
Gross Square Footage:1,600 sq.ft.
Increase:$100 Per Year
Projected Monthly Rent:$8,000
Projected Annual:$96,000
Projected Total Income:
Projected Monthly Rent$96,997
Projected Annual Rent$1,163,964
Annual Expenses (Actual)
Real Estate Taxes:$118,699
Insurance: $5,773
Utilities:$15,421
Water/Sewer:$3,465
Garbage:$1,953
Elevator Services:$3,884
Elevator Inspection:$7,052
Residential Heating Contract:$1,698
Total Annual Expenses:$157,945
The building has a flat roof with existing I-Beams exposed. This way any investor who is interested in building up to maximize their air rights may easily do so.
All 5 residential high ceiling loft units are Free Market. 3 of the units are owner occupied. Building will be delivered vacant. The remaining 2 units have leases that expire on May 31, 2019.
1E Commercial Retail w/Basement
Water/sewer bill is sub-metered and pays twice a year. Buyout clause is $400K with an 18 month notice.
Gross Square Footage2,000 sq.ft.
Basement 1,600 sq.ft.
Increase3%
Projected Monthly Rent $16,480
Projected Annual $197,760
Unit 1W
Type: Commercial Retail w/Basement
pays $200 water/sewer every month. Buyout clause is $300K with 1 year notice.
Gross Square Footage: 2,000 sq.ft.
Basement: 1,200 sq.ft.
Increase:3%
Projected Monthly Rent: $16,480
Projected Annual: $197,760
Unit 2E
Type: Commercial Office Suite w/Terrace
pays $100 water/sewer every month along with rent. Buyout clause is $100K with 1 year notice.
Gross Square Footage:1,600 sq.ft.
Outdoor: 250 sq.ft.
Increase:3%
Projected Monthly Rent:$8,137
Projected Annual:$97,644
Unit 2W
Type: Commercial Office Suite w/Terrace
pays $50 water/sewer every month and has no buyout clause.
Gross Square Footage: 1,600 sq.ft.
Outdoor: 250 sq.ft.
Increase:0%
Projected Monthly Rent: $7,900
Projected Annual:$94,800
Unit 3E
Type: Residential 2 Bed/1 Bath Loft w/Balcony
Gross Square Footage:1,600 sq.ft.
Outdoor: 250 sq.ft.
Projected Monthly Rent:$8,000
Projected Annual:$96,000
Unit 3W
Type: Residential 3 Bed/1 Bath Loft w/Balcony
Gross Square Footage:1,600 sq.ft.
Outdoor: 250 sq.ft.
Projected Monthly Rent:$8,000
Projected Annual:$96,000
Unit 4
Type: Residential 3 Bed/1 Bath Loft
Gross Square Footage: 3,200 sq.ft.
Projected Monthly Rent:$16,000
Projected Annual: $192,000
Unit 5E
Type: Residential 2 Bed/2 Bath Loft
Gross Square Footage:1,600 sq.ft.
Increase:$100 Per Year
Projected Monthly Rent:$8,000
Projected Annual:$96,000
Unit 5W
Type: Residential 2 Bed/2 Bath Loft
Gross Square Footage:1,600 sq.ft.
Increase:$100 Per Year
Projected Monthly Rent:$8,000
Projected Annual:$96,000
Projected Total Income:
Projected Monthly Rent$96,997
Projected Annual Rent$1,163,964
Annual Expenses (Actual)
Real Estate Taxes:$118,699
Insurance: $5,773
Utilities:$15,421
Water/Sewer:$3,465
Garbage:$1,953
Elevator Services:$3,884
Elevator Inspection:$7,052
Residential Heating Contract:$1,698
Total Annual Expenses:$157,945
Listing History for 123 West 20th Street
Now
11/06/2018
POM by A. Oaxaca
Douglas Elliman
08/08/2018
TOM by A. Oaxaca
Douglas Elliman
Building Details for 123 West 20th Street
OwnershipMixed Use
Building TypeLoft
Service LevelVoice Intercom
AgePost-War
AccessElevator
Floors/Apts5/5
Transit and Citi Bike
Subway
23 St
0.14 miles
18 St
0.16 miles
23 St
0.18 miles
14 St
0.24 miles
23 St
0.29 miles
Citi Bike
W 21 St & 6 Ave
0.04 miles
W 18 St & 6 Ave
0.12 miles
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: 73755TH
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