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108-110 Ninth Ave 34 Unit Apartment Building For Sale New York, NY 10011
Executive Summary
Jones Lang LaSalle (“JLL”) has been exclusively retained to arrange the
sale of 108–110 9th Avenue (the “Property”), two adjacent 5-story mixed
use buildings situated on the northeast corner of 9th Avenue and West 17th
Street in the heart of Chelsea, Manhattan. The Property contains 22,617
total gross square feet and 38 total units, inclusive of 34 residential units
and 4 ground-floor retail spaces, offering investors a stable in-place cash
flow with meaningful upside through the eventual turnover of regulated
units and mark-to-market opportunities within the free market component.
The residential unit mix comprises 23 free-market units, 2 rent-stabilized
market units, 7 rent-stabilized units, and 2 rent-controlled units. This
diversified composition provides a stable income base with long-term
upside potential as the units are repositioned and renovated. Current
free-market rents average approximately $5,213 per month, with strong
demand for one- and two-bedroom layouts supporting continued rental
growth. Of the 23 free-market units, 7 are one-bedroom and 16 are two
bedroom configurations, a well-balanced distribution that aligns with
neighborhood demand and caters effectively to the young professional
demographic drawn to the area, particularly due to its proximity to major
employers such as Google.
The property features four retail spaces, three of which are currently
leased, with one becoming available. The largest, a prominent corner
unit, is occupied by Alaska Food Market under a lease extending through
February 2034. Adjacent to this space is Foreign Convenience & More,
a smoke shop with a lease in place through August 2031. An additional
retail unit, positioned along West 17th Street just off the avenue, is leased
to Locanut, a health-focused café, through January 2030. This stretch of
Ninth Avenue in Chelsea is defined by a vibrant mix of neighborhood
serving and destination retail, benefiting from steady foot traffic driven by
nearby residential density and proximity to the High Line. The corridor’s
strong blend of food, service, and convenience-oriented tenants reinforces
consistent demand and long-term viability for retail operators.
Situated in the heart of Chelsea, the property benefits from a dynamic and
highly desirable neighborhood known for its vibrant dining and nightlife
scene, with an eclectic mix of acclaimed restaurants, cafés, and bars. The
area is further enhanced by its proximity to cultural destinations such
as the High Line, Chelsea Market, and numerous art galleries, offering a
rich blend of lifestyle amenities. Residents enjoy excellent transportation
access, with nearby subway service at the 14th Street–8th Avenue station
(A C E L) and 18th Street station (1 2), as well as convenient bus
routes, providing seamless connectivity throughout Manhattan.
sale of 108–110 9th Avenue (the “Property”), two adjacent 5-story mixed
use buildings situated on the northeast corner of 9th Avenue and West 17th
Street in the heart of Chelsea, Manhattan. The Property contains 22,617
total gross square feet and 38 total units, inclusive of 34 residential units
and 4 ground-floor retail spaces, offering investors a stable in-place cash
flow with meaningful upside through the eventual turnover of regulated
units and mark-to-market opportunities within the free market component.
The residential unit mix comprises 23 free-market units, 2 rent-stabilized
market units, 7 rent-stabilized units, and 2 rent-controlled units. This
diversified composition provides a stable income base with long-term
upside potential as the units are repositioned and renovated. Current
free-market rents average approximately $5,213 per month, with strong
demand for one- and two-bedroom layouts supporting continued rental
growth. Of the 23 free-market units, 7 are one-bedroom and 16 are two
bedroom configurations, a well-balanced distribution that aligns with
neighborhood demand and caters effectively to the young professional
demographic drawn to the area, particularly due to its proximity to major
employers such as Google.
The property features four retail spaces, three of which are currently
leased, with one becoming available. The largest, a prominent corner
unit, is occupied by Alaska Food Market under a lease extending through
February 2034. Adjacent to this space is Foreign Convenience & More,
a smoke shop with a lease in place through August 2031. An additional
retail unit, positioned along West 17th Street just off the avenue, is leased
to Locanut, a health-focused café, through January 2030. This stretch of
Ninth Avenue in Chelsea is defined by a vibrant mix of neighborhood
serving and destination retail, benefiting from steady foot traffic driven by
nearby residential density and proximity to the High Line. The corridor’s
strong blend of food, service, and convenience-oriented tenants reinforces
consistent demand and long-term viability for retail operators.
Situated in the heart of Chelsea, the property benefits from a dynamic and
highly desirable neighborhood known for its vibrant dining and nightlife
scene, with an eclectic mix of acclaimed restaurants, cafés, and bars. The
area is further enhanced by its proximity to cultural destinations such
as the High Line, Chelsea Market, and numerous art galleries, offering a
rich blend of lifestyle amenities. Residents enjoy excellent transportation
access, with nearby subway service at the 14th Street–8th Avenue station
(A C E L) and 18th Street station (1 2), as well as convenient bus
routes, providing seamless connectivity throughout Manhattan.
Property Facts
| Sale Type | Investment | Building Class | C |
| No. Units | 34 | Lot Size | 0.12 AC |
| Property Type | Multifamily | Building Size | 22,617 SF |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built/Renovated | 1910/1986 |
| Zoning | R8/ C2-6A - C2-6A primarily residential with commercial uses on the street level. R8 typically has multifamily buildings that are often 8 to 10 stories. | ||
| Sale Type | Investment |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 22,617 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1910/1986 |
| Zoning | R8/ C2-6A - C2-6A primarily residential with commercial uses on the street level. R8 typically has multifamily buildings that are often 8 to 10 stories. |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 34 | - | 445 |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,843,190 CAD | |
| Land Assessment | $446,201 CAD | Total Assessment | $4,289,391 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$446,201 CAD
Improvements Assessment
$3,843,190 CAD
Total Assessment
$4,289,391 CAD
Contacts
-
Teddy Galligan -
Hall Oster -
Steven Rutman -
Jonathan Hageman -
Logan Boenning -
Jacob Russell -
JLL
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108-110 Ninth Ave
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