439 West 21st Street Chelsea Townhouse For Sale

For sale is a luxury multi-family townhouse that includes five studios and a triplex with two bedrooms and one and a half bathrooms. This property is located on one of the most exquisite blocks in Chelsea, surrounded by charming historic landmark houses.
Situated in a prime location between Ninth and Tenth Avenue, this property is considered a prestigious asset in highly sought-after West Chelsea. Nestled on a serene tree-lined street, it offers a tranquil setting. The townhouse enjoys close proximity to several notable Chelsea attractions, including Chelsea Piers, the High Line, and the world-renowned Chelsea Market.
Currently, the layout comprises two studios with market rates, two occupied rent-stabilized units, and one vacant rent-stabilized studio that could potentially be combined with the free market triplex. Additionally, the property boasts a 35-foot-deep private rear yard, providing a delightful outdoor space.
This property presents a compelling opportunity for both investors and end-users due to its strong rental cash flow and various value-add features:

Development potential utilizing the unused air rights to construct an additional 1.5 stories.
A garden floor triplex with high-end renovations, offering an excellent live-in plus income opportunity.
Potential for future conversion into a single-family residence.
The asking price for this remarkable property is $6,895,000. It comprises a total floor area of 4,175 square feet and features six units in total, including five studios and one triplex. The rear yard spans 740 square feet, providing ample outdoor space. Moreover, the property has 1,135 square feet of available air rights for potential future development. The lot dimensions measure 1983, while the building dimensions are 1944.