137 West 14th Street
137 West 14th Street
Greenwich Village / Chelsea
Prime Greenwich Village / Chelsea | Repositioning Opportunity
| Asking Pricing | $5,500,000 |
|---|---|
| Type | Elevator Building |
| Neighborhood | Greenwich Village / Chelsea |
| Properties | One |
| Zoning Code | C6-2A / R8B |
| Size | 11,365 Square Feet |
| Stories | 3 Stories |
| Air Rights | 1,807 SF |
Investment Highlights:
137 West 14th Street offers investors a unique repositioning and redevelopment opportunity in prime Greenwich Village. The property is currently configured as a 3-story plus cellar mixed-use commercial building, with 6,977 SF above grade and a 2,581 SF separate rentable basement – perfect for a speakeasy. The property is being delivered vacant with full demolition completed and ready for permits. A portion of the air rights were sold with enough remaining to construct one additional story with 1,807 SF for a total of 11,365 SF.
The property benefits from C6-A zoning which allows for multiple uses. Current ownership has worked diligently with DOB and recently obtained approval to convert the building to residential and add one additional floor. There will be nine residential units, one retail unit on the ground level, a legal cellar, and a finished roof deck. 137 West 14th Street presents investors with a viable repositioning opportunity for a fully free market asset.
Located in prime Greenwich Village / Chelsea at the nexus of Union Square and Flatiron, 137 West 14th Street is well situated between the 14th Street / 6th Avenue and the 14th Street / 8th Avenue subway stations. The immediate area benefits from one-of-a-kind foot traffic and is anchored by three of the busiest subway stations.
