Updated 7 years ago
Off Market
52,617 Square FeetRental Property
$1
floors / apts15 / 42
Lot Size75'x98'9"
Built Size75'x98'
ZoneC6-3X
Building TypeMid-Rise
RE Taxes$355,331
Price Per SF
$0
Building Amenities
- Video Intercom
- Elevator
Property Description for 118-22 West 23rd Street
> Mixed-Use Investment Buildings
> 118-22 West 23rd Street, is a 75' wide 15-story plus basement elevatored building on a lot that is 98' 9" deep which is located between Sixth and Seventh Avenues.
> The property is approximately 52,617 gross sq. ft above grade and contains a total of 42 free market apartments of which 12 are studios, 6 are one-bedrooms, 18 are two-bedrooms and 6 are three-bedrooms.
> There are two retail spaces totaling 5,904 SF on the ground and 4,535 SF in the lower level. North Fork Bank occupies a 3,568 SF ground floor unit and the entire lower level with a lease expiration of 12/31/2015. Including tax escalations, current rent is equivalent to $70.86 PSF for the ground and $35.00 PSF for the basement.
> The other retail space is occupied by the Lafine Salon, occupying 2,336 SF on the ground floor with a lease expiration of 2/28/2010. Including real estate tax escalations, current rent is $78.95 PSF.
> The residential rents average $3,311 per unit or $48/rsf, offering significant upside.
> A condominium plan is being prepared.
Building Details for 118-22 West 23rd Street
OwnershipRental Property
Building TypeMid-Rise
Service LevelVideo Intercom
AgePost-War
AccessElevator
Year Built1987
Floors/Apts15/42
Transit and Citi Bike
Subway
23 St
0.04 miles
23 St
0.13 miles
23 St
0.26 miles
18 St
0.26 miles
28 St
0.29 miles
Citi Bike
W 21 St & 6 Ave
0.1 miles
W 25 St & 6 Ave
0.13 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: 25047TH
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