Multi-family

Introducing 222 West 16th Street, New York, NY 10011 — An exceptional investment opportunity in Manhattan’s prime Chelsea neighborhood. This mid-rise apartment building offers a blend of classic charm and strategic location, making it a compelling choice for investors seeking value and long-term potential in New York City’s competitive real estate market.

Property Overview:

• Address: 222 West 16th Street, New York, NY 10011
• Asking Price: $7,800,000 ($557,143/Unit)
• Sale Type: Investment Opportunity
• Property Type: 2-Star Mid-Rise Apartments
• Location: Central Business District (CBD), Chelsea
• Units: 14
• Stories: 4
• Class: C
• Gross Building Area (GBA): 6,550 sq. ft.
• Typical Floor Area: 1,638 sq. ft.
• Number of Buildings: 1
• Units per Acre: 233/AC
• Market Segment: All
• Rent Type: Market

Key Features:

Strategic Location in Chelsea:

Located in the heart of Chelsea, one of Manhattan’s most vibrant neighborhoods, this property is surrounded by cultural landmarks, top-tier dining, and excellent transportation links. Its central location enhances its appeal to both renters and investors.

Stable Investment Potential:

With 14 rental units and market-driven pricing, this property offers stable revenue potential. The current Class C status presents an opportunity for future upgrades, allowing investors to increase returns through renovation or repositioning strategies.

Efficient Layouts for Urban Living:

The building features 6,550 sq. ft. of living space across four stories, with a typical floor area of 1,638 sq. ft. Its compact yet functional design aligns with the needs of urban dwellers, ensuring steady demand in the rental market.

Mid-Rise Appeal in a Competitive Market:

This 2-star mid-rise building is well-suited for investors seeking a manageable asset in a prestigious neighborhood. Its unit density and favorable rent type cater to a diverse tenant base.

Conclusion:

222 West 16th Street offers a rare chance to own an income-generating property in Manhattan’s sought-after Chelsea district. Its combination of location, value, and future potential makes it a standout investment in New York City’s ever-changing real estate landscape. This property is an excellent choice for investors looking to secure their foothold in one of the most desirable areas of the city.