189 7Th Ave New York, NY 10011
- Mixed-use properties
- 5,625 SF
Current Use by Public Records
- Kove Bro. True Value Hardware / Tool Store / Hardware Store
Property Details for 189 7Th Ave
- Property size
- 5,625 SF
- Property type
- Mixed-use properties
Description
This exceptional mixed-use property at 189 7th Avenue in New York City's vibrant Chelsea neighborhood presents a compelling investment opportunity. The building, encompassing 5,625 square feet across two stories, is currently vacant and offers significant upside potential. The asking price is $6,950,000, translating to $1,235.56 per square foot. The property features two units within a single building and benefits from a corner location on a busy street, ideal for ground floor retail use. With a zoning designation of R8A, C2-5, and a substantial floor area ratio (FAR) of 11,139 square feet, the property offers considerable flexibility for redevelopment or expansion. The existing structure presents a blank canvas for a variety of uses, allowing for creative adaptation to meet current market demands. The property's long-standing history as a neighborhood destination, with the same business owners occupying the corner for over 80 years, adds to its inherent value and established presence. Investors will appreciate the potential for conversion and reclassification to tax class 2B, further enhancing its attractiveness within the competitive Manhattan real estate market. This is a rare chance to acquire a well-positioned asset in a thriving area with substantial development potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.9963
- Latitude
- 40.7428
