$2,495,000
↓ $200K (7.4%)
●
Condo -
For Sale
358 W 23RD Street #RETL
Manhattan, NY 10011
Studio
2 Baths,
2
Half Baths
3900 Sqft
$13,491
Estimated Monthly
$1,240
HOA / Fees
1.07%
Cap Rate
About This Property
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.
Unit Size
3,900Ft²
Days on Market
29 days
Land Size
-
Price per sqft
$640
Property Type
Condo
Property Taxes
-
HOA Dues
$1,240
Year Built
1910
Listed By
Last updated: 3 days ago (RLS #RPLU-33423016693)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Jun 10, 2024 | Price Decreased |
$2,495,000
↓ $200K
(7.4%)
|
|
Price Decreased | |||
May 16, 2024 | Listed by Corcoran Group | $2,695,000 | |
Listed by Corcoran Group |
Property Highlights
Air Conditioning
Fireplace
Interior Details
Bathroom Information
Full Bathrooms: 1
Half Bathrooms: 2
Interior Information
Living Area: 3900
Room Information
Laundry Features: Building None
Rooms: 7
Fireplace Information
Has Fireplace
Electric
Fireplaces: 1
Basement Information
Exterior Details
Property Information
Year Built: 1910
Building Information
Outdoor Living Structures: None
Pets Allowed: Building No, No
Land Information
Tax Lot: 0002
Tax Block: 00746
Utilities Details
Cooling Type: Central Air
Location Details
Subdivision Name: Chelsea
Stories Total: 3
View: Other
Association Fee: $1,240
Association Fee Frequency: Monthly
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Condo
1
Bed
2
Baths
1,825 ft²
$1,232/ft²
$2,247,500
Apr 24, 2019
$2,247,500
Oct 2, 2019
$2,180/mo
Condo
3
Beds
3
Baths
1,912 ft²
$1,491/ft²
$2,850,000
Sep 6, 2022
$2,850,000
Apr 10, 2023
$4,937/mo
Condo
3
Beds
1
Bath
1,832 ft²
$1,556/ft²
$2,851,100
Sep 6, 2014
$2,851,100
May 1, 2015
$3,212/mo
Condo
3
Beds
3
Baths
1,912 ft²
$1,569/ft²
$3,000,000
Sep 3, 2019
$3,000,000
Aug 4, 2021
$4,522/mo
Co-op
3
Beds
3
Baths
2,000 ft²
$1,600/ft²
$3,200,000
Apr 14, 2023
$3,200,000
Aug 15, 2023
$3,333/mo
Active
Condo
1
Bed
2
Baths
1,478 ft²
$2,030/ft²
$3,000,000
Feb 29, 2024
-
$1,281/mo
Active
Condo
1
Bed
2
Baths
1,466 ft²
$2,012/ft²
$2,950,000
Feb 9, 2024
-
$3,822/mo
Condo
1
Bed
2
Baths
1,119 ft²
$2,243/ft²
$2,510,000
Oct 19, 2023
-
$1,759/mo
Condo
1
Bed
2
Baths
992 ft²
$2,656/ft²
$2,635,000
Feb 14, 2024
-
$1,622/mo
In Contract
Condo
1
Bed
2
Baths
1,208 ft²
$2,537/ft²
$3,065,000
Jun 15, 2023
-
$1,970/mo
Condo
1
Bed
2
Baths
1,042 ft²
$2,740/ft²
$2,855,000
Aug 30, 2023
-
$1,704/mo
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
05/12/2022
|
Studio
|
1 Bath
|
-
|
$600,000
Studio
1 Bath
|
$600,000
05/22/2023
|
-
|
Vincent Circosta
Corcoran Group
|
|
05/14/2019
|
Studio
|
-
|
-
|
$3,600,000
Studio
-
|
-
-
|
-
|
Nengkao Zhang
RITZ REALTY NY CORP
|
|
01/23/2019
|
1 Bed
|
1 Bath
|
750 ft²
|
$999,000
1 Bed
1 Bath
750 ft²
|
$949,000
-5.01%
07/17/2019
|
Kenneth Brown
Level Group Inc
|
||
07/17/2014
|
1 Bed
|
1 Bath
|
-
|
$649,000
1 Bed
1 Bath
|
$649,000
11/17/2014
|
Suzanne Zinsel
Halstead dba Brown Harris Stevens Residential Sales LLC
|
Building Info
358 West 23rd Stree
358 West 23rd Street, New York, NY 10011
- 7 Units
- 1 Unit for Sale
About Midtown Manhattan
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