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    242 W 27Th St New York, NY 10016

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    For Sale
    $10,000,000

    Seven-story mixed-use building in Chelsea with retail and office space.

    Property size:
    17,500 SF
    Lot size:
    0.06 Acres

    Property Features for 242 W 27Th St

    General Information

    Size
    17,500 SF
    Lot size
    0.06 Acres

    Source: Meridian Capital Group Agent David Schechtman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Chelsea Mixed-Use Building for Sale

    The property at 242 West 27th Street is a seven-story, 17,500-square-foot mixed-use building featuring both office and retail spaces. It is located in Chelsea, directly across from the Fashion Institute of Technology’s main campus. The building includes 1,000 square feet of fully-leased retail space, which generates income through 2034. Additionally, there are 16,500 square feet of office space, with 8,600 square feet currently vacant and 2,600 square feet under month-to-month leases, presenting opportunities for increased income through new leasing at market rates. The building has 25 feet of frontage and visibility along 27th Street. It benefits from transit access, with proximity to the 1, 2, 3, A, C, and E subway lines and Penn Station.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Brooks Pilates Pilates Studio New York City ... Lighting Consultant Sound by Singer Audio Visual Equipment Supplier Sip Coffee Cafe Bryan Zelnik Architect, ... Architect

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Food Market Grocery Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9958461
    Latitude
    40.7473703

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    FAQs

    What type of property is this?
    Mixed-use property - Seven-story mixed-use building in Chelsea with retail and office space.
    Where is this mixed-use property located?
    The property is located at 242 W 27Th St New York, NY.
    What is the asking price?
    The asking price for this property is $10,000,000.
    What are key features of this property?
    This property features: - Prime Chelsea location directly across from the Fashion Institute of Technology.; - Significant upside potential through leasing 8,600 square feet of vacant office space and 2,600 square feet on month-to-month leases at market rents.; - Stable income from 1,000 square feet of fully-leased retail through 2034.
    (212) 468-5907
    Request Owner's contact information
    242 W 27Th St New York, NY 10016
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    New York, NY 10016
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    242 W 27Th St New York, NY 10016
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