Chelsea Townhouse – Prime Real Estate Development Opportunity $9,000,000
Entering the market for the first time as a vacant building, 156 West 15th Street is a five story building currently configured with 1 ground floor retail unit, and 10 apartments. The entire building will be delivered vacant by August 31, 2015, and represents a tremendous opportunity for an investor seeking upside potential in a well-located Chelsea neighborhood.
Bring an architect to design and reimagine the conversion possibilities this property offers. The lot size is 20×103.25, and the building has 5 stories with additional buildable air rights. The property presents an opportunity for an investor to convert the building to income-producing property with spacious full floor apartments or multiple apartments rented furnished or unfurnished. The property can also be visualized as an extraordinary single-family townhouse.
Chelsea is one of the most sought after neighborhoods in NYC, adjacent to the West Village, Meatpacking District, and Union Square. The property is on the south side of 15th Street between 6th and 7th Avenues, within walking distance to the 14th street subway station, near major corporate headquarters like Google, Twitter and Yelp, and close to Chelsea Market and the Highline.*Photo shown is an architectural rendering courtesy of Granoff Architects.