Price Reduced 7.42%

$2,495,000

Est. Mortgage $12,452/mo *

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Listing courtesy of Corcoran Group

Price History

$2,695,000
5/16/2024

$2,495,000
6/10/2024

358 West 23rd Street, #RETL, New York, (Chelsea), NY, 10011

358 West 23rd Street, #RETL, New York, (Chelsea), NY, 10011
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7 rooms

0 beds

1 Full / 1 Half baths

1850

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.

Status:

Active

Town:

New York

Type:

Condo

Building Type:

Townhouse

Cooling:

Central

Levels:

5

Pet Policy:

No Pets

Washer/Dryer Allowed:

Yes

Building Access:

Walk-up

Service Level:

Voice Intercom

Lobby Attendant:

No

OLR #:

RPLU33423016693

Community Info

School Info

Walk Score

Mass Transit

Yelp

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