315 West 29 Street   Unit BUILDING

Walking Distance to Facebook, Amazon, and Apple!
100% Free Market, Vacant Multi-Family Property in Chelsea

Centrally positioned near Manhattan's most vibrant neighborhoods, including the Chelsea Gallery District and Hudson Yards, this five-story multifamily property has tremendous potential. Although well-maintained by the current owner, it represents an ideal opportunity for an investor to upgrade the units further and benefit from an increased rent roll. With the influx of big-tech companies to the neighborhood, 315 West 29th Street is now within walking distance to Manhattan's new and rapidly evolving central business district:

3-minute walking distance to Facebook's Penn Farley Complex
7-minute walking distance to Facebook's Hudson Yards offices
7-minute walking distance to Apple's 11 Penn Plaza
9-minute walking distance to Amazon's 5 Manhattan West

The building is currently configured as ten free-market units. All apartments are light-flooded and provide views towards public and private gardens. Four units are 2-bedroom duplexes; the remaining six units are configured as generous one-bedrooms. There are two apartments per floor, and four units have access to private outdoor space. The apartments feature open kitchens, fireplaces, and through-the-wall air condition units.

The property's location is right next to the Lamartine Place Historic District, a small historic district featuring twelve charming mid-19th-century-row houses. While 315 West 29th Street retained its charming front garden and numerous historic features, including exposed brick throughout, the building is located outside of the historic district and not encumbered by a landmark designation. The property also comes with 2,890 SF of unused Air Rights. The building dimensions are 22 47, and the lot dimensions are 22 98.75.

There is substantial future upside in the rents as demand for apartments in this area is expected to grow further. The immediate neighborhood of 315 West 29th Street is emerging as one of Manhattan's most desirable commercial and residential neighborhoods due to over $27 billion in recent public and private investments, including the revitalization of Penn Station and the development of Hudson Yards, Manhattan West, and the High Line.

This property presents a unique opportunity to acquire an entirely free-market investment property with multiple options for future use.