228-230 W 18th St | New York, NY 10011
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- LoopNet Team
228-230 W 18th St
New York, NY 10011
Build-to-Rent Property For Sale
·
22 Units
INVESTMENT HIGHLIGHTS
- Core Chelsea Mixed-Use Cornerstone: Located just one block south of 206 West 21st, this 24-unit property features a highly desirable residential
- High-Quality Renovated Inventory: All 18 free market residential units have been fully renovated, allowing for long-term rent stabilization
- Development Optionality: Offers 9,349 SF of unused air rights and no historic district restrictions, providing future optionality for expansion
- Diversified Revenue Profile: Includes 2 ground floor commercial units and 22 residential apartments, offering a well-balanced income stream
- Additional Income Opportunity: Four rent-stabilized units present potential upside over time, consistent with neighborhood rent trends
PROPERTY FACTS
| No. Units | 22 | Total Plot Size | 0.10 ac |
| Property Type | Build-to-Rent | Property Size | 14,500 sq ft |
| Property Subtype | Apartment | No. Floors | 5 |
| Apartment Style | Mid-Rise | Year Built | 1915 |
| Costar Property Class | C | ||
| Use Class | C6-2A | ||
| No. Units | 22 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.10 ac |
| Property Size | 14,500 sq ft |
| No. Floors | 5 |
| Year Built | 1915 |
| Use Class | C6-2A |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| Studios | 22 | - | - |
PROPERTY TAXES
| Parcel Number | 0767-0057 | Improvements Assessment | £1,280,075 |
| Land Assessment | £204,719 | Total Assessment | £1,484,794 |
PROPERTY TAXES
Parcel Number
0767-0057
Land Assessment
£204,719
Improvements Assessment
£1,280,075
Total Assessment
£1,484,794
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