Description

Seize this incredibly rare opportunity to own a commercial/condo space in Chelsea, NYC. Due to its prime location, the restaurant has made cameos in several TV shows and movies. The unit is currently a fully operational restaurant complete with garden/event space in the back, fully functional and up to code kitchen, immaculate basement with a personal office, full bathroom, employee changing area, cellar, massive cooler, and delivery shoot. Upon entering the restaurant, you're greeted by the spacious, well crafted open concept bar and the cocktail lounge area.The space gives way to the dining area decorated with a huge mirror and it's functional masterpiece, the brick gas fire place. Continue past the dining area to the 4 season enclosed garden dining/event space in the back, excellent for meetings, events, and parties. The industrial kitchen is fully equipped and up to code. The basement has 3 egresses. Not interested in a restaurant, no worries! This condo can be converted into anything your heart desires. Looking to use as an investment? Perfect! The projected income based on recent market analysis puts this gem at $22K per month, allowing your cap rate to soar to an astonishing 7.5% post expenses, very rare in this suffering market. The condo was appraised for $3.6M this year. This is a motivated seller. Don't miss out on this once in a lifetime opportunity to own a commercial/condo that will yield dividends for decades to come. Conveniently by the West Side Highway, this property location makes it the ideal place to maximize on, not only foot traffic, but car traffic. It is surrounded by tourist hot spots like The Chelsea Hotel, The High Line, Gotham Comedy Club, Flatiron Building, The Standard Hotel, The Vessel, Rubin Museum, as well as 15 of the most reputable art galleries in the United States!
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Building Features

intercom

$2,995,000 / $892 per ft²

Listed on Jan 06, 2020

DOM temporarily suspended

Studio / 2.0 Baths / 3,356 ft²

Total Monthly expenses: $5,274

Maintenance: $1,107 / R.E. Taxes $4,167

Exclusively listed with: The Corcoran Group Source: RLS

Erica
Nieves

erica.nieves@corcoran.com

(718) 765-3896

Vanessa
DeGarcia

vanessa.degarcia@corcoran.com

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Listing Courtesy of The Corcoran Group View Listing

Unit listing history

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