WCG - Commercial Space

WCG 559 W 23rd St, New York
images/559w23/2.jpeg 559 W 23rd St, New Yorkimages/559w23/9.jpg 559 W 23rd St, New Yorkimages/559w23/7.jpeg 559 W 23rd St, New York
WCG
559 W 23rd St, New York

Brief

West Chelsea Newly Constructed Retail Condominium 
Ideal For Gallery Or Creative Use Deal Highlights 
 
• Location North side of West 23rd Street between 10th and 11th Avenues
  • Use Restrictions Club, Bar, Restaurant, Clinic - See by-laws for full list
  • Zoning C6-3A/Special West Chelsea District
  • Allocated Condo Interest 11.9933%
  • Condominium Charges - Annual $13,735
  • Real Estate Taxes (2016/2017) $33,371
  • Projected Net Operating Income $193,974
  • Cap Rate - Upon Stabilization 5.97%
  • Per Total SF $1,598
• 2,034 SF retail condominium 
• Newly constructed – gallery, office, creative or retail use 
  • Ground Floor 1,363 (12' 10" to 17' 5")
  • Lower Level 671 (11' 2")
  • Total 2,034

• Highly coveted West Chelsea location among world-renowned galleries 
• The North Gallery is day-lit from a large skylight 
• Proximity to The High Line, Chelsea Piers and Chelsea Waterside Park 
 
Rental: $244,080/yearly
Asking: $3,250,000 

Details

Price
3,250,000
SQ Ft
2,034