121 27Th StNew York, NY 10001

Property Details for 121 27Th St

Year built

1910

Lot size

0.23 AC

Property size (Sq ft)

113,129 SF

Zone code

M1-6

Property type

Banks

APN

00803-0021

APU

8030021

Description

This exceptional 12-story, Class B office building located at 121 W 27th St, between 6th Avenue and Broadway in the vibrant Chelsea submarket of New York City, offers a unique opportunity for businesses seeking traditional office space. Built in 1910 and renovated in 1990, the building boasts 110,000 square feet of total space, with 25,000 square feet currently available for lease. The minimum divisible space is 2,500 square feet, with a maximum contiguous space of 5,000 square feet. The building features a 12-foot ceiling height and includes seven total suites. While there is no on-site parking, the building's convenient location provides easy access to public transportation. The building is zoned M1-6 and sits on a 2.5-acre lot with a floor area ratio (FAR) of 10. The building is equipped with elevators. Power is rated at 100. Property taxes are not currently assessed. This is an excellent opportunity to establish a presence in one of Manhattan's most sought-after neighborhoods.

• CAP approach

  CAP return

  Valuation

  6%

  $27,494,296

  6.5%

  $25,379,350

  7%

  $23,566,540

• Comparable approach

  Method

  Valuation

  Relative Method

  $37,249,216

  Geo Method

  $37,249,216

• Alternative Use

  Use

  Valuation

  Residential

  $21,408,432

  Hospitality

  $19,610,008

  Educational

  $16,315,297

  Medical

  $16,876,404

  Retail

  $25,379,350

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7461

Longitude

-73.9919

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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