"A Cheslea Address with Room to Reimagine - Bring All Offers"

A rare opportunity to reimagine a Chelsea multifamily property with existing income, vacant units, and substantial value-add potential. This four-story, non-landmarked pre-war building has 21 residential units, including 12 market-rate apartments and SRO units.

Six SRO units are currently vacant, creating a lease-up opportunity. Four additional vacant units have PE status. The property was previously appraised at $6.6 million.

Set on a tree-lined block near The High Line, Chelsea Market, Hudson River Park, and major subway lines, the property offers investors and developers multiple paths to explore:

- Operate and improve the existing multifamily property

- Create a one-family luxury residence

- Explore a multifamily condominium conversion

- Develop free-market rental housing

- 21 residential units

- 12 market-rate apartments

- Six vacant SRO units

- Four additional vacant units with PE status

- Approximately 6,555 SF of existing building area

- Approximately 2,300 SF lot

- 25 -foot building width

- R7B zoning

- Four stories

- Tax Class 2 Building Class C5

- Non-landmarked

The property's stated potential development area is approximately 8,970 SF. Buyers should independently verify zoning, development potential, and all property details.

Bring your vision-and your offer.

Showings by appointment only.