Investment Overview

The subject offering is a 3,800 square foot retail condo located on Tenth Avenue, between 23rd and 24th Streets, in Manhattan’s Chelsea neighborhood. The offering is located steps from the entrance to The Highline, and it sits at the base of Vesta24, a 22-unit luxury condominium building. The unit is currently occupied by an event space/gallery, and it will be delivered vacant at the closing. The space features 12’ ceilings with 24’ of frontage on Tenth Avenue. This is an opportunity to acquire a minimal management Manhattan retail asset in one of the fastest growing trades areas in the city. The site sites right between the Meatpacking District and Hudson Yards, and it is surrounded by both art galleries and national retailers. This offering stands to benefit from both long-term appreciation and a wide tenant base due to its residential density, and continued development growth in both Hudson Yards and West Chelsea.