122 29Th StNew York, NY 10001

For Sale
Call for price

Prime Chelsea Location, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
97
This meticulously maintained four-story mixed-use building at 122 W 29th St, New York, NY 10001, offers a compelling investment opportunity in the heart of Chelsea. The 8,985 square foot property sits on a 2,469 square foot lot and is zoned MI-6. The building features four units, providing a diverse range of rental spaces. The ground floor, a street-level retail store with a full basement, is currently vacant. The second floor, also commercial space, is currently occupied by a month-to-month tenant and will be delivered vacant. The third floor is a spacious commercial unit, also vacant and ready for a new tenant. The fourth floor presents a unique live/work opportunity. The front portion is a vacant commercial space with a skylight, while the rear features a newly renovated two-bedroom, two-bathroom apartment, also with a skylight. Each floor has separately metered utilities and individual heating systems. The building boasts a recently replaced roof (2018) and a strong net operating income (NOI) of $597,765. The vacant spaces on the third and fourth floors offer significant potential for increased income through strategic leasing. This property is well-suited for a variety of businesses and residential tenants, making it an ideal investment in a highly desirable location. The building's prime location and strong financial performance make it an attractive proposition for savvy investors seeking a high-return asset in a thriving New York City neighborhood.

Highlights

  • Ground floor: Vacant street-level retail space with full basement.
  • Second floor: Vacant commercial space; current month-to-month tenant will vacate.
  • Third floor: Vacant spacious commercial unit.
  • Fourth floor: Vacant live/work space featuring a front commercial area and a renovated 2-bed/2-bath apartment.
  • Separately metered utilities on each floor.
  • Individual heating systems on each floor.

Property Details for 122 29Th St

Property type
Other mixed-use properties, Mixed-use properties
Square Feet
8,985 SF
Stories
4
Units
4

Location Insight

City
New York
County
New York
State
New York
Latitude
40.7469518
Longitude
-73.9912488
122 29Th St, New York, New York

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122 29Th St
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