Office Building with Conversion
541 W 21st St New York, NY 10011
541 W 21st St, New York, NY, 10011
Contact for pricing
For Sale
Contact for pricing
Pending
Built in 1915, this West 21st Street office building includes major infrastructure upgrades for office-to-residential conversion.
Property Size65,000 SF
Lot Size0.17 Acres
Days on Market298
Property Features for 541 W 21st St
General Information
- Standard status
- Pending
- Size
- 65,000 SF
- Lot size
- 0.17 Acres
- Property subtype
- Multifamily, Office
Listing agency
Maltz Auctions
(516) 349-7022
Listed by
Richard Maltz · License #NY 10311204111
Source
Crexi
Added: Sep 29, 2025 Updated: Jul 22 at 10:32PM Checked: Jul 22 at 10:32PM
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 Maltz Auctions
Investment Insights
Based on property information with market context.
Originally constructed in 1915, this 65,000+ sq. ft. office building at 541–545 West 21st Street presents a clear path for adaptive reuse. The property features efficient 7,100+ sq. ft. floor plates, ample ceiling heights, large window lines, and open spans suited to residential layouts. The building sits on an approximately 7,500 sq. ft. site footprint.
The property is located in the Special West Chelsea District, which includes an M1-5 zoning overlay, supporting creative adaptive reuse. The building has been improved with new electrical services throughout, air-handling infrastructure including a 28-ton water-cooled air handling unit on each level, and two newly installed elevators serving from the lobby/first floor through the rooftop.
Additional updates include new windows on the west and north elevations, new plumbing infrastructure, new sprinklers and standpipes, a new entrance with an updated facade, and a stand-by generator capable of running the entire building for 24 hours. A water view of the Hudson River is available from the 6th floor through the rooftop. The sale is subject to Bankruptcy Court approval in the SDNY case of In re: ERBO Properties LLC (Case No. 23-10210-lgb). The stalking horse bid is $45,000,000, with the next acceptable bid at $45,200,000.
The property is located in the Special West Chelsea District, which includes an M1-5 zoning overlay, supporting creative adaptive reuse. The building has been improved with new electrical services throughout, air-handling infrastructure including a 28-ton water-cooled air handling unit on each level, and two newly installed elevators serving from the lobby/first floor through the rooftop.
Additional updates include new windows on the west and north elevations, new plumbing infrastructure, new sprinklers and standpipes, a new entrance with an updated facade, and a stand-by generator capable of running the entire building for 24 hours. A water view of the Hudson River is available from the 6th floor through the rooftop. The sale is subject to Bankruptcy Court approval in the SDNY case of In re: ERBO Properties LLC (Case No. 23-10210-lgb). The stalking horse bid is $45,000,000, with the next acceptable bid at $45,200,000.
Key Highlights
- 65,000+ SF office building on W 21st St in West Chelsea, built in 1915
- Special West Chelsea District (M1‑5 zoning overlay) with described adaptive reuse path to residential conversion
- Efficient 7,100+ SF floor plates and large window lines/open spans for residential layout potential
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Built in 1915, this West 21st Street office building includes major infrastructure upgrades for office-to-residential conversion.
Where is this office building located?
The property is located at 541 W 21st St New York, NY.
What are key features of this property?
This property features: 65,000+ SF office building on W 21st St in West Chelsea, built in 1915; Special West Chelsea District (M1‑5 zoning overlay) with described adaptive reuse path to residential conversion; Efficient 7,100+ SF floor plates and large window lines/open spans for residential layout potential
