525 West 29th Street 29th Street New York, Manhattan, NY 10001
For sale mixed-use asset with occupied restaurant space and buildable air rights totaling about 21,000 SF.
- 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
Listing office Halvatzis Realty Inc (718) 545-8300
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 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.
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Manhattan
- County
- New York
- State
- New York
- Longitude
- -73.9489942
- Latitude
- 40.6378628