$ 4,995,000
Active
Status
21
Rooms
21
Bedrooms
14
Bathrooms
6,546/608
ASF/ASM
$ 8,161
Real Estate Taxes
[Monthly]
Description
"A Cheslea Address with Room to Reimagine - Bring All Offers"
A rare opportunity to reimagine a Chelsea multifamily property with existing income, vacant units, and substantial value-add potential. This four-story, non-landmarked pre-war building has 21 residential units, including 12 market-rate apartments and SRO units.
Six SRO units are currently vacant, creating a lease-up opportunity. Four additional vacant units have PE status. The property was previously appraised at $6.6 million.
Set on a tree-lined block near The High Line, Chelsea Market, Hudson River Park, and major subway lines, the property offers investors and developers multiple paths to explore:
- Operate and improve the existing multifamily property
- Create a one-family luxury residence
- Explore a multifamily condominium conversion
- Develop free-market rental housing
- 21 residential units
- 12 market-rate apartments
- Six vacant SRO units
- Four additional vacant units with PE status
- Approximately 6,555 SF of existing building area
- Approximately 2,300 SF lot
- 25 -foot building width
- R7B zoning
- Four stories
- Tax Class 2 Building Class C5
- Non-landmarked
The property's stated potential development area is approximately 8,970 SF. Buyers should independently verify zoning, development potential, and all property details.
Bring your vision-and your offer.
Showings by appointment only.
"A Cheslea Address with Room to Reimagine - Bring All Offers"
A rare opportunity to reimagine a Chelsea multifamily property with existing income, vacant units, and substantial value-add potential. This four-story, non-landmarked pre-war building has 21 residential units, including 12 market-rate apartments and SRO units.
Six SRO units are currently vacant, creating a lease-up opportunity. Four additional vacant units have PE status. The property was previously appraised at $6.6 million.
Set on a tree-lined block near The High Line, Chelsea Market, Hudson River Park, and major subway lines, the property offers investors and developers multiple paths to explore:
- Operate and improve the existing multifamily property
- Create a one-family luxury residence
- Explore a multifamily condominium conversion
- Develop free-market rental housing
- 21 residential units
- 12 market-rate apartments
- Six vacant SRO units
- Four additional vacant units with PE status
- Approximately 6,555 SF of existing building area
- Approximately 2,300 SF lot
- 25 -foot building width
- R7B zoning
- Four stories
- Tax Class 2 Building Class C5
- Non-landmarked
The property's stated potential development area is approximately 8,970 SF. Buyers should independently verify zoning, development potential, and all property details.
Bring your vision-and your offer.
Showings by appointment only.
Listing Courtesy of City Sphere
Features
A/C
Building Details
Rental Property
Ownership
Low-Rise
Building Type
Voice Intercom
Service Level
Walk-up
Access
742/58
Block/Lot
25'x92'
Lot Size
Pre-War
Age
1910
Year Built
5/29
Floors/Apts
Amenities
Alarm System
Laundry Room
Single Room Occupancy
Contact
Charles Mazalatis
License
Licensed As: Charles Mazalatis
President & Licensed Real Estate Broker
Mortgage Calculator
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
©2026 REBNY Listing Service, Inc. All rights reserved.
All information is intended only for the Registrant’s personal, non-commercial use.
RLS Data display by Maz Group NY.
Additional building data provided by On-Line Residential [OLR].
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
Listing ID: 48774TH
