$3,750,000
SOLD

AS OF ABOUT 8 MONTHS AGO

402 West 22nd Street in West Chelsea

Marcus & Millichap is pleased to offer the following opportunity at 402 West 22nd Street (Block: 00719-45) between 9th and 10th Avenues. The property sits on a 14.25 foot by 72 foot lot, built full on the ground floor and is built 14.25 by 52 feet deep on floors two through four. The property has an approximate gross square footage of 4,788 and is zoned C2-5/R7B.

This five story townhome is well situated directly off the corner of West 22nd Street and Ninth Avenue, conveniently located one block from the Chelsea Highline and two blocks from the A-Line subway. The property consists of six studio apartments, a single one-bedroom duplex, and a three-bedroom duplex on the ground floor, for a total of eight units. The ground floor duplex is in turn-key condition, and an ideal live-plus income opportunity. Due to the commercial zoning overlay, there is also potential for commercial use in the downstairs s... [more]

Marcus & Millichap is pleased to offer the following opportunity at 402 West 22nd Street (Block: 00719-45) between 9th and 10th Avenues. The property sits on a 14.25 foot by 72 foot lot, built full on the ground floor and is built 14.25 by 52 feet deep on floors two through four. The property has an approximate gross square footage of 4,788 and is zoned C2-5/R7B.

This five story townhome is well situated directly off the corner of West 22nd Street and Ninth Avenue, conveniently located one block from the Chelsea Highline and two blocks from the A-Line subway. The property consists of six studio apartments, a single one-bedroom duplex, and a three-bedroom duplex on the ground floor, for a total of eight units. The ground floor duplex is in turn-key condition, and an ideal live-plus income opportunity. Due to the commercial zoning overlay, there is also potential for commercial use in the downstairs such as an office or a gallery.

402 West 22nd Street is offered at $783 per square foot, where comparable sales have recently sold north of $900 per square foot. This opportunity offers investors a chance to own a townhouse near the Highline at a going in cap rate of 4.7%.

The Investment Highlights
• 8 Unit Townhome in Chelsea – West 22nd Street just off of Ninth Avenue
• Located on a prime West Chelsea block
• Excellent live plus income opportunity
• Historic District Chelsea Townhome for under $800 PSF
• One Block from The Highline
• Real In-Place Income
• Steps from the Subway on West 23rd Street and 8th Avenue
• Potential Commercial Use on Ground Floor