Updated 2 years ago
Off Market
358 West 23rd Street, RETL
Chelsea, Manhattan | Eighth Ave & Ninth Ave
Loft 1.5 Baths3,900 Square FeetCondo
$2,195,000
Common Charges$1,240
RE Taxes$4,891
Price Per SF
$563
Listing Features
- High Ceilings
- Dishwasher
Building Amenities
- Voice Intercom
Policies
- Pets Allowed
Property Description for 358 West 23rd Street, RETL
Motivated Seller - GROUND LEVEL with BASEMENT Commercial/condo Ground space for sale in Chelsea, NYC. NOT THE ENTIRE BUILDING, JUST THE COMMERCIAL SPACE IS FOR SALE.
Due to its prime location, the restaurant has made cameos in several TV shows and movies. The unit is currently a fully operational restaurant complete with garden/event space in the back, fully functional and up to code kitchen, immaculate basement with a personal office, full bathroom, employee changing area, cellar, massive cooler, and delivery shoot.
Restaurant is a spacious, well crafted open concept bar and cocktail lounge. The space gives way to the dining area decorated with a huge mirror and it's functional dramatic brick gas fireplace. Continue past the dining area to the glass enclosed garden dining/event space in the back, excellent for meetings, events, and parties. The industrial kitchen is fully equipped and up to code.
The basement has 3 egresses. The projected income based on recent market analysis puts this gem at $25K per month, allowing your cap rate to soar to an astonishing 7.5% post expenses, very rare in this market.
Conveniently located by the West Side Highway and the High Line, this property location makes it the ideal place to maximize on, not only foot traffic, but car traffic. Surrounded by tourist hot spots like The Chelsea Hotel, The High Line, Gotham Comedy Club, Flatiron Building, The Standard Hotel, The Vessel, Rubin Museum, as well as 15 of the most reputable art galleries in the United States!
Why rent when you can acquire a great commercial opportunity.
Due to its prime location, the restaurant has made cameos in several TV shows and movies. The unit is currently a fully operational restaurant complete with garden/event space in the back, fully functional and up to code kitchen, immaculate basement with a personal office, full bathroom, employee changing area, cellar, massive cooler, and delivery shoot.
Restaurant is a spacious, well crafted open concept bar and cocktail lounge. The space gives way to the dining area decorated with a huge mirror and it's functional dramatic brick gas fireplace. Continue past the dining area to the glass enclosed garden dining/event space in the back, excellent for meetings, events, and parties. The industrial kitchen is fully equipped and up to code.
The basement has 3 egresses. The projected income based on recent market analysis puts this gem at $25K per month, allowing your cap rate to soar to an astonishing 7.5% post expenses, very rare in this market.
Conveniently located by the West Side Highway and the High Line, this property location makes it the ideal place to maximize on, not only foot traffic, but car traffic. Surrounded by tourist hot spots like The Chelsea Hotel, The High Line, Gotham Comedy Club, Flatiron Building, The Standard Hotel, The Vessel, Rubin Museum, as well as 15 of the most reputable art galleries in the United States!
Why rent when you can acquire a great commercial opportunity.
Video Walkthrough
Listing History for 358 West 23rd Street, RETL
Now
09/09/2024
TOM by Erica Nieves
Corcoran
07/13/2024
$2,195,000 [-$300,000] [12%]
Price Drop by Erica Nieves
Corcoran
Building Details for 358 West 23rd Street
OwnershipCondo
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1850
Financing Allowed90%
Floors/Apts5/7
Transit and Citi Bike
Subway
23 St
0.12 miles
23 St
0.27 miles
14 St
0.35 miles
18 St
0.36 miles
28 St
0.38 miles
Railroad
Penn StationLong Island Rail Road
0.48 miles
Citi Bike
9 Ave & W 22 St
0.09 miles
W 22 St & 8 Ave
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: 2087979
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