Cushman & Wakefield Retained Exclusively to Sell Retail Cooperative Leasehold in Chelsea
Cushman & Wakefield has been retained on an exclusive basis to sell a retail cooperative leasehold at 143 West 19th Street. The property is located between Sixth and Seventh Avenues in Manhattan’s Chelsea neighborhood. The asking price is $11,350,000.
The 62-year leasehold is for three ground floor units measuring approximately 8,500 square feet. The units benefit from approximately 12’ high ceilings and 120’ of frontage on West 19th Street. Additionally, there is basement storage space.
A portion of the property can be delivered vacant by the end of the year and is an ideal opportunity for both investors and end-users alike.
“This retail property presents an opportunity that is unheard of in this market – a potential 5.5% cap rate once leased out at market rate,” said Cushman & Wakefield’s Brock Emmetsberger, who is exclusively marketing this property.