195 10TH Avenue new Save Request In-Person Tour Request Virtual Tour
Manhattan,NY 10011
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 8,830 sqft
Price per Sqft $872
Subdivision Chelsea
MLS Listing ID RLS20037488
Bedrooms 16
Full Baths 8
HOA Y/N No
Year Built 1900
Annual Tax Amount $99,744
Property Sub-Type Mixed Use
Property Description
195 Tenth Avenue is situated in prime Chelsea right in the middle of New York City's vibrant art scene. In fact, it is literally around the corner from well-known galleries such as Pace, Gagosian and Paula Cooper, to name a few, not to mention the artist collectives where up and comers show.
Looking south, the property is diagonally across the avenue from the Highline Hotel itself located between the two beautiful Seminary blocks, among the prettiest in the entire City. From there it's only a hop, skip and jump down to the Meatpacking District where the Whitney Museum, Little Island and world class shopping await.
The Empire Diner is on the northern diagonal from the building. Chelsea Piers is a block away and there's a Whole Foods, Home Depot, the world renowned Chelsea Hotel and a plethora of fine dining options, as well as Madison Square Garden and the new Penn Station, all within walking distance. Clearly this property is situated in a sublime, happening neighborhood!
The property itself is a 25 foot wide, 5-story mixed use building that was built in 1905. It currently has 8 apartments and a restaurant which occupies the first floor and the building's garden. Each residential unit consists of 2 bedrooms and one bathroom. All the front apartments look directly at Clement Clarke Moore Park, a lovely neighborhood recreation area; the rear have a view of the High Line.
There is one rent controlled unit in the building and 5 of the apartments are rent stabilized. The remaining two-one currently occupied by the owner--have been renovated and each can command market rate. Best of all, at this moment the building nets almost $400,000 after expenses and there definitely is upside potential.
By all reasonable measures this is a profitable property in an A+ location. In other words, it's an excellent investment opportunity. What are you waiting for?
Rent Roll, Income & Expenses available upon request.
Location
State NY
County New York
Rooms
Basement Other
Interior
Interior Features Smoke Free
Fireplace No
Laundry In Unit
Exterior
Exterior Feature Private Outdoor Space Over 60 Sqft
View Y/N No
View Other
Porch None
Private Pool No
Building
Dwelling Type Mixed Use
Story 5
New Construction No
Others
Ownership None
Monthly Total Fees $8,312
Special Listing Condition Standard
Pets Allowed Building Yes,No