144 8Th AveNew York, NY 10011

Property Details for 144 8Th Ave

Year built

1920

Lot size

0.06 AC

Property size (Sq ft)

7,662 SF

Zone code

C16A

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

00767-0001

APU

7670001

Description

This exceptional three-story mixed-use building, located at 144 Eighth Avenue in the heart of Chelsea, New York, NY 10011, presents a rare investment opportunity. The property boasts a total of 9,874 rentable square feet, distributed across six commercial units. The ground floor features a large vacant retail space with significant basement storage, ideal for a variety of uses, and a smaller, currently occupied grab-and-go food and beverage establishment. Below grade, a custom tailoring business occupies additional space. The second floor houses a spacious yoga studio with high ceilings and abundant natural light from large windows overlooking West 17th Street and Eighth Avenue. The third floor comprises two office spaces, one currently occupied, enjoying similar light and air exposure. The building sits on a 2,637 square foot lot and benefits from 674 square feet of available air rights. Its C1-6A zoning allows for diverse commercial uses. This corner property offers strong in-place income and a prime location in a bustling neighborhood, providing excellent proximity to the 1, 2, and 3 subway lines, numerous restaurants, offices, and shops. This is a chance to acquire a significant income-producing asset in one of Chelsea's most desirable commercial areas.

• CAP approach

  CAP return

  Valuation

  6%

  $1,570,779

  6.5%

  $1,449,950

  7%

  $1,346,382

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,551,731

  Geo Method

  $1,551,731

• Alternative Use

  Use

  Valuation

  Residential

  $1,449,950

  Hospitality

  $1,328,146

  Educational

  $1,105,002

  Medical

  $1,143,005

  Retail

  $1,718,892

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7416

Longitude

-74.0007

CBSA code

35620

CBSA name

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

Property Tax & Assessments

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