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    Mixed-Use Property with Air Rights Title is generated by Realmo AI

    525 West 29th Street 29th Street New York, Manhattan, NY 10001

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    For Sale
    $8,500,000

    For sale mixed-use asset with occupied restaurant space and buildable air rights totaling about 21,000 SF.

    Type:Commercial
    Added:
    Apr 24, 2026
    Days on Market:
    75
    Last Refresh:
    Jul 7 at 2:07 am

    Property Features for 525 West 29th Street 29th Street New York

    General Information

    Standard status
    Active
    Property subtype
    Commercial

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    Christina Sidoti

    Listing office Halvatzis Realty Inc

    Listing date Apr 24, 2026

    Source Cohenandcohenrealty

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

    All listing content including descriptions, pricing, images are the copyrighted material of Halvatzis Realty Inc

    HighLights

    • For sale mixed‑use asset at 525 W 29th St with occupied restaurant plus projected gallery and residential income.
    • Buildable air rights total about 21,000 SF (market valuation noted as $300/SF).
    • Purchase price listed as $8,500,000.
    • Pro forma annual NOI: $354,600 with projected cap rate of 4.17%.
    • Income items listed: Restaurant $234,000 (occupied), Gallery $96,000 (projected/vacant), Residential $45,600 (under market), Tax reimbursement $35,000.
    • Expenses listed as $56,000 total, including owner RE taxes of $35,000; utilities & maintenance shown as $0 due to 100% tenant responsibility.

    Overview

    The property is a mixed-use building that includes an occupied restaurant component and a gallery space described as projected/vacant, along with residential units noted as under market. The offering is also framed around approximately 21,000 SF of buildable air rights, presented as a key part of the acquisition and redevelopment strategy.

    The asset is marketed as having direct High Line frontage, aligning it with the West Chelsea art district context referenced in the remarks. The address is 525 West 29th Street in Manhattan, New York.

    For buyers and operators, this configuration can fit a range of approaches, from owning and operating the existing income components to pursuing value through the buildable air rights opportunity. The remarks also note tenant responsibility for utilities and maintenance, along with tax reimbursement attributed to an anchor tenant share; all figures are labeled approximate in the source materials. Any questions regarding zoning, FAR, and transferability are specifically directed to be verified with appropriate legal and architectural professionals prior to closing.
    Location Intelligence

    Current Use by Public Records

    P V Enterprises Wedding Service Cotten Michael Marketing & Advertising Microscope Gallery Art Gallery Kahlo Restaurant

    Suggested Use

    Pet Grooming Service Adult Day Care Buffet Nursing Home Nursing Home Clothing & Fashion Store Restaurant Restaurant Restaurant Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Manhattan
    County
    New York
    State
    New York
    Longitude
    -73.9489942
    Latitude
    40.6378628

    FAQs

    What type of property is this?
    Mixed-use property - For sale mixed-use asset with occupied restaurant space and buildable air rights totaling about 21,000 SF.
    Where is this mixed-use property located?
    The property is located at 525 West 29th Street 29th Street New York Manhattan, NY.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: For sale mixed‑use asset at 525 W 29th St with occupied restaurant plus projected gallery and residential income.; Buildable air rights total about 21,000 SF (market valuation noted as $300/SF).; Purchase price listed as $8,500,000.
    More about this property
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