Updated 5 years ago
Sold
315 West 29th Street
Chelsea, Manhattan | Eighth Ave & Ninth Ave
5,802 Square FeetIncome Property
$6,800,000
floors / apts5 / 10
Lot Size22'x98'
Built Size22'x47'
ZoneR8B
Building TypeLow-Rise
RE Taxes$71,684
Price Per SF
$1,172
This property was sold for $6,450,000 on 08/26/21.
Listing Features
- High Ceilings
- Original Details
- Oversized Windows
- Skylights
- WBFP
- Radiator
- Through The Wall
Outdoor space and views
- Backyard [22'x31']
- Private Roof
- Courtyard
- Empire State Bldg
- Garden Views
- Skyline Views
- Treeline Views
Building Amenities
- Voice Intercom
- Laundry Room
Property Description for 315 West 29th Street
Walking Distance to Facebook, Amazon, and Apple!
100% Free Market, Vacant Multi-Family Property in Chelsea
Centrally positioned near Manhattan's most vibrant neighborhoods, including the Chelsea Gallery District and Hudson Yards, this five-story multifamily property has tremendous potential. Although well-maintained by the current owner, it represents an ideal opportunity for an investor to upgrade the units further and benefit from an increased rent roll. With the influx of big-tech companies to the neighborhood, 315 West 29th Street is now within walking distance to Manhattan's new and rapidly evolving central business district:
3-minute walking distance to Facebook's Penn Farley Complex
7-minute walking distance to Facebook's Hudson Yards offices
7-minute walking distance to Apple's 11 Penn Plaza
9-minute walking distance to Amazon's 5 Manhattan West
The building is currently configured as ten free-market units. All apartments are light-flooded and provide views towards public and private gardens. Four units are 2-bedroom duplexes; the remaining six units are configured as generous one-bedrooms. There are two apartments per floor, and four units have access to private outdoor space. The apartments feature open kitchens, fireplaces, and through-the-wall air condition units.
The property's location is right next to the Lamartine Place Historic District, a small historic district featuring twelve charming mid-19th-century-row houses. While 315 West 29th Street retained its charming front garden and numerous historic features, including exposed brick throughout, the building is located outside of the historic district and not encumbered by a landmark designation. The property also comes with 2,890 SF of unused Air Rights. The building dimensions are 22 × 47, and the lot dimensions are 22 × 98.75.
There is substantial future upside in the rents as demand for apartments in this area is expected to grow further. The immediate neighborhood of 315 West 29th Street is emerging as one of Manhattan's most desirable commercial and residential neighborhoods due to over $27 billion in recent public and private investments, including the revitalization of Penn Station and the development of Hudson Yards, Manhattan West, and the High Line.
This property presents a unique opportunity to acquire an entirely free-market investment property with multiple options for future use.
100% Free Market, Vacant Multi-Family Property in Chelsea
Centrally positioned near Manhattan's most vibrant neighborhoods, including the Chelsea Gallery District and Hudson Yards, this five-story multifamily property has tremendous potential. Although well-maintained by the current owner, it represents an ideal opportunity for an investor to upgrade the units further and benefit from an increased rent roll. With the influx of big-tech companies to the neighborhood, 315 West 29th Street is now within walking distance to Manhattan's new and rapidly evolving central business district:
3-minute walking distance to Facebook's Penn Farley Complex
7-minute walking distance to Facebook's Hudson Yards offices
7-minute walking distance to Apple's 11 Penn Plaza
9-minute walking distance to Amazon's 5 Manhattan West
The building is currently configured as ten free-market units. All apartments are light-flooded and provide views towards public and private gardens. Four units are 2-bedroom duplexes; the remaining six units are configured as generous one-bedrooms. There are two apartments per floor, and four units have access to private outdoor space. The apartments feature open kitchens, fireplaces, and through-the-wall air condition units.
The property's location is right next to the Lamartine Place Historic District, a small historic district featuring twelve charming mid-19th-century-row houses. While 315 West 29th Street retained its charming front garden and numerous historic features, including exposed brick throughout, the building is located outside of the historic district and not encumbered by a landmark designation. The property also comes with 2,890 SF of unused Air Rights. The building dimensions are 22 × 47, and the lot dimensions are 22 × 98.75.
There is substantial future upside in the rents as demand for apartments in this area is expected to grow further. The immediate neighborhood of 315 West 29th Street is emerging as one of Manhattan's most desirable commercial and residential neighborhoods due to over $27 billion in recent public and private investments, including the revitalization of Penn Station and the development of Hudson Yards, Manhattan West, and the High Line.
This property presents a unique opportunity to acquire an entirely free-market investment property with multiple options for future use.
Listing History for 315 West 29th Street
Now
08/26/2021
$6,450,000
Sold and Closed by Thomas Guss
New York Residence
07/31/2021
Contract Signed by Thomas Guss
New York Residence
Building Details for 315 West 29th Street
OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1900
Floors/Apts5/10
Transit and Citi Bike
Subway
28 St
0.22 miles
34 St-Penn Station
0.25 miles
23 St
0.26 miles
34 St-Penn Station
0.28 miles
23 St
0.37 miles
Railroad
Penn StationLong Island Rail Road
0.16 miles
Citi Bike
W 30 St & 8 Ave
0.07 miles
8 Ave & W 27 St
0.1 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: 72101TH
Find home. Discover happiness.