Boutique Multifamily Investment in Chelsea – 217 West 15th Street
Address: 217 West 15th Street, New York, NY, 10011
Asking Price: $5,995,000 ($1,498,750/Unit)
Sale Type: Investment
Asset Type: 2-Star Mid-Rise Apartment Building
Location: CBD – Chelsea
Units: 4
Stories: 5
Building Class: C
Gross Building Area (GBA): 4,500 SF
Typical Floor Size: 900 SF
# of Buildings: 1
Units per Acre: 85/AC
Rent Type: Market
Property Overview:
217 West 15th Street presents a unique opportunity to acquire a fully market-rate, boutique 4-unit multifamily property in the heart of Chelsea. Situated on a quiet residential block between 7th and 8th Avenues, this 5-story walk-up offers stable in-place income and long-term appreciation potential in one of Manhattan’s most supply-constrained and desirable neighborhoods.
Read More
Investment Highlights:
✔ Prime Chelsea Location: Close proximity to Google HQ, The High Line, Chelsea Market, and major transit hubs. A+ location for both renters and long-term hold investors.
✔ All Market-Rate Units: No rent regulation, allowing full flexibility on leasing, repositioning, or future conversion strategies.
✔ Low Density + Strong Layouts: Only 4 large units across 5 stories, providing expansive floorplans that appeal to premium tenants seeking privacy and space.
✔ Solid In-Place Income: Generates immediate cash flow with potential to grow rents upon turnover or renovation.
✔ Ideal for 1031 Buyers, Long-Term Holders, or Family Offices: Great scale, limited management intensity, and strong location fundamentals.
Property Summary:
- Price: $5,995,000
- Units: 4
- Stories: 5
- GBA: 4,500 SF
- Typical Floor Size: 900 SF
- Building Class: C
- Rent Type: Market
- Market Segment: All
Conclusion:
217 West 15th Street is a rare opportunity to acquire a market-rate multifamily building in a high-barrier, high-demand neighborhood. With its strong tenant appeal, income stability, and location upside, this asset is a smart buy for investors focused on long-term value in Manhattan.
Request the full Offering Memorandum and schedule a private showing today.
