October 17, 2019
The tri-state investment sales group for Avison Young is marketing for sale a four-story, 7,867-square-foot mixed-use multifamily property at 304 Eighth Ave. in Chelsea. The asking price is $9 million.
An Avison Young team comprised of directors Mitchell Levine and David Shalom, associate director Toku Saito and associate Carter Lovejoy are representing the unidentified owner in the offering.
“This property provides a unique opportunity for owner-operators and developers alike in the highly sought-after Chelsea neighborhood,” said Levine. “Beyond 304 Eighth Ave.’s fantastic location, the property includes an additional 6,984 square feet of air rights, allowing for a complete renovation and build-up to almost double its current square footage.”
The property has more than 24 feet of frontage on the eastern side of Eighth Avenue. The sole remaining retail tenant is in-place on a month-to-month basis paying below-market rent, meaning the property can also be delivered completely vacant.
Connect National Investment & Finance is coming to New York on Oct. 23. For more information, or to register, click here.
Connect Opportunity Zones will be presented for the first time on Oct. 23 in New York. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny