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203 West 22nd St., New York, NY 10011

Listing Details:
$6,495,000 Price
Townhouse Property Type
Chelsea Neighborhood
5 Beds
5 Baths
2,548 Approx. Sq. Ft.
$3,000 RET
Key Features:
Allows Pets
Unit Laundry

NEWLY RENOVATED MODERNIST TOWNHOUSE: 100% Free Market Rate Tenants In Place - Strong In-Place Cash Flow & Future Upside!

FAR Available — Can Be Built Up — Ideal Income Earner or Single Family Conversion w/Build-Up Potential

Gut Renovated, Prime Chelsea Townhouse: Redone Pre-war Facade & New Designer Construction Throughout

Supremely located in one of Manhattan’s most vibrant and coveted downtown neighborhoods — with close proximity to the Chelsea Gallery District and most every area hot spot (including Hudson Yards) — this fully redone, four-story multifamily property has tremendous upside potential.

With a strong in-place rent roll and proven high demand for units in this home and area, this rare property can be a smart long-term hold — even for an overseas or hands-off investor. The pristine building is also well suited for a condominium conversion or a single family conversion. The property is not landmarked, and there are approximately 2400 square feet of air rights included.

Currently configured as 4 free-market, market-rate tenants-in-place, all apartments are bright, attractive, modern, and pristine. This feel-good building has been artfully reinvented and reimagined as stylish and popular apartments — homes that have consistently proven to be magnets for qualified, market-rate tenants seeking a high-quality home in a stellar location.

On coveted West 22nd Street — a stone’s throw from every prime Chelsea transportation, shopping, dining, fitness, and cultural destination, the entire home has been lovingly re-built anew – offering a fresh beginning for a 21st Century life in a classic shell. Each home in the building is energy-independent, with its own hot water heater and its own central HVAC and washer/dryer units. There is no building boiler or infrastructure to concern a landlord, and there is a terrific building Super (lives nearby) in place.

This brand-spanking-new, stellar construction lays out as follows:

Floor One & Garden Level: Duplexed, dual-entry, floor-through residence with two bedrooms, two baths, open eat-in kitchen with dishwasher, washer/dryer, a large living room with private backyard garden access, high ceilings, wide-planked wood floors, both Southern and Northern exposures, and virtual doorman service.

Floors Two Through Four: Floors two, three, and four each offers a floor through one bedroom, one bathroom residence with top-shelf, stainless appliances (including dishwasher and washer/dryer), high ceilings, wide-planked wood floors, both Southern and Northern exposures, and virtual doorman service.

NOTE: FAR exists that allows owner to build atop floor four — one could explore creation of a duplexed top-floor penthouse with outdoor space. This addition would also serve as upside for a condo conversion or for a single-family home conversion.

Impressive market rate rent roll available upon request, depicting rent comparable to full service building rates.

Here is in-place income in a building that practically runs itself — in one of prime Chelsea’s freshest, smartest new modernist homes. Here is your unique opportunity to acquire an entirely free market investment property with multiple options for future use.

Listing courtesy of Compass

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