Multi-family

Chelsea Multifamily Investment Opportunity – 222 West 16th Street

Asking Price: $7,730,000
Price/Unit: $552,143
Asset Type: Multifamily / Mid-Rise Apartments
Units: 14 Residential Units
Stories: 4
Gross Building Area: 8,865 SF
Location: West Chelsea – Between 7th & 8th Avenues
Market Segment: Market-Rate Residential
Class: C | 2-Star Walk-Up
Zoning: R8B (Verify Separately)

Property Overview:

222 West 16th Street is a 4-story, 14-unit multifamily building located in the heart of Chelsea, one of Manhattan’s most desirable residential neighborhoods. Offering a total of 8,865 square feet across 14 residential units, this walk-up building represents a rare opportunity for investors seeking steady cash flow, value-add potential, or long-term appreciation in a supply-constrained Manhattan submarket.

Key Features:

• Prime Chelsea Location: Centrally positioned between 7th and 8th Avenues, near Google HQ, the High Line, and Chelsea Market
• Efficient Layout: Typical floorplate of ~1,663 SF with well-proportioned unit mix
• All Market-Rate Units: No rent regulation, offering full repositioning potential
• Stable Income Producing Asset: Strong rental demand from young professionals and creatives
• Value-Add Opportunity: Potential for unit renovations and rental premium optimization

Investment Highlights:

• 14 residential units totaling 8,865 GSF
• Fully market-rate, offering repositioning flexibility
• Excellent transit access (A/C/E, 1, F/M, L subway lines)
• Surrounded by major tech, retail, and cultural institutions
• Located in a high-demand residential and mixed-use corridor

Conclusion:

222 West 16th Street is a well-located, income-generating multifamily asset with significant long-term upside. Its market-rate status and Chelsea address make it an ideal acquisition for investors focused on core Manhattan multifamily with repositioning or buy-and-hold strategies.

Contact us today to request the full offering memorandum or to schedule a walkthrough.