131 14Th StNew York, NY 10011

  • Other commercial real estate
  • 11,550 SF
For Sale

Property Details for 131 14Th St

Year built
1920
Lot size
0.06 AC
Property size (Sq ft)
11,550 SF
Zone code
C62A
Property type
Other commercial real estate
APN
00790-0018
APU
7900018

Description

This exceptional mixed-use property at 131 W 14th Street in Manhattan's vibrant Chelsea neighborhood offers a compelling investment opportunity. The 11,550 square foot building, constructed in 1920 and renovated in 1983, features a five-story structure on a 2,581 square foot lot. The property is zoned C6-2A and includes a ground lease. The building boasts first-floor retail space delivered in shell condition, providing flexibility for customization to suit a new owner's specific needs. Above the retail space are four floors of apartments, offering spacious living areas and modern amenities. This presents a dual-income stream potential: leasing the retail space or utilizing it for a business, and collecting rent from the residential units. Chelsea's robust rental market, with a 6.1% increase in rents over the past year, makes this an attractive proposition. The property's location is highly desirable, with proximity to Union Square Park, The New School, Parsons School of Design, and Lenox Hill Northwell Greenwich Village Hospital. Excellent public transportation access is provided by numerous subway lines (1, 2, 3, F, M, L, N, Q, R, and W) within walking distance. The seller is offering 50% mortgage financing to facilitate a smooth transaction. This prime location in a rapidly growing area, coupled with the building's versatile layout and financing options, makes 131 W 14th Street an ideal investment for both owner-users and investors.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $2,185,712
    Hospitality
    $2,002,100
    Educational
    $1,665,724
    Medical
    $1,723,011
    Retail
    $2,591,126
131 14Th St, New York, New York

Location Insight

City
New York
County
New York
State
New York
Latitude
40.7382
Longitude
-73.9981
CBSA code
35620
CBSA name
NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$141,486
$382,500
$953,280
$1,335,780
-
$850,000
$2,244,000
$3,094,000

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