Property profile

297 7th Ave New York, NY 10001

OFF-MARKET
Hotels
Property ID
US63-5713343
4,800 SF 0.05 ac lot Built 1920
Entity Owned 2-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional Chelsea property at 297 7th Avenue offers three contiguous floors, each spanning 850 square feet, totaling 2,550 square feet of versatile space. Located in a prime Manhattan location, this building is ideal for a variety of uses, including traditional office, coworking, medical office, or creative office spaces. The building itself is a four-story, Class B structure, originally built in 1920 and extensively renovated in 2024. The property features a single building with no elevators. The minimum divisible space is 850 square feet, with three 850 sq ft spaces currently available. The total building square footage is 4,800 square feet. This property is situated in New York County, New York, and offers high visibility and accessibility within a bustling urban environment. The flexible floor plans allow for customization to suit diverse business needs. The asking price starts at $6,000 per floor, with terms negotiable. This presents a unique opportunity to establish a presence in one of Manhattan's most desirable neighborhoods. The property is categorized as Retail, Office, and Special Purpose, suitable for multiple tenants.

Property profile

Verified
Property type Hotels
Use group HOTEL
Year built 1920
Total area 4,800 SF
Lot 0.05 ac (2,340 SF)
Zoning code M1-6
APN 00802-0078
UPID US63-5713343

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hotel & Motel
  • Hotel & Motel
  • Cafe & Coffee Shop
  • Locksmith

Location

297 7th Ave New York, NY 10001-6013
New York metro Census 9500 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$4.83M
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.58M
Blend (final) Blend
$4.75M

Owner & transaction history

since 2023
Last sale
$5.0M
7 recorded transactions
2023
$5.0M
2021
$7.3M
2021
Price N/A
2021
Price N/A
2014
Price N/A
2013
Price N/A
2008
$5.1M

Zoning & alternative use

M1-6 · New York, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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