Cushman & Wakefield has been retained on an exclusive basis to sell a prime corner portfolio of mixed-use properties located on the northwest corner of Tenth Avenue and West 22nd Street and adjacent to the High Line in Manhattan’s Chelsea neighborhood. Ownership is requesting proposals for this sale.
The properties, located at 505 West 22nd Street and 203, 205, and 207 Tenth Avenue, are being offered for sale for the first time in over 30 years. They feature protected rooftop views of the Chelsea Historic District to the east and the High Line running north and south. The buildings boast 162’ of frontage, affording the site prominent exposure for retail tenants in a rapidly developing part of the city. The properties total 26 apartments and four ground floor retail spaces, all along the avenue. Additionally, the site benefits from approximately 7,185 square feet of air rights that may be used for development in a neighborhood that commands condominium sell out values of over $3,000 per square foot.
“The High Line Portfolio presents a rare opportunity to purchase one of the last prime corners in West Chelsea left undeveloped. Being adjacent to the High Line to the west and having light and air preserved by the Chelsea Historic District to the east also makes it one of the best corners,” said Cushman & Wakefield’s Brock Emmetsberger, who is exclusively marketing this property along with Winfield Clifford. “From location and in-place income to retail frontage, development rights, and flexible zoning, the High Line Portfolio is one of Manhattan’s premier investment properties,” added Winfield Clifford.
Click here for listing details
Neighborhoods: Chelsea/ Agents: Winfield Clifford