Cushman & Wakefield Retained Exclusively to Sell Mixed-Use Building with Development Rights in Chelsea
Cushman & Wakefield has been retained on an exclusive basis to sell a mixed-use building at 107 West 17th Street. The property is located between Sixth and Seventh Avenues in Manhattan’s Chelsea neighborhood. Ownership is requesting offers.
The three-story walk-up building contains approximately 4,658 square feet and sits on a 25’ x 92’ lot. It consists of a ground floor restaurant space with two residential units above, both of which will be delivered vacant. The restaurant space is leased to the popular Italian eatery da Umberto, which has been in business since 1987. Additionally, the property benefits from approximately 9,188 square feet of air rights which can be sold with the building or separately.
The property is located one block from the F and M train stops on Sixth Avenue and less than a block from the 1 train stop on Seventh Avenue. The property is also less than a block from where Barney’s will open their new lower Manhattan store.
“This offering presents a rare live-invest or value-add asset in the exciting neighborhood of Chelsea,” said Cushman & Wakefield’s James Nelson, who is exclusively marketing this property with Brock Emmetsberger.