146 W 29th St - Ground Floor Retail Cooperative 3,500 SF Retail Condo Unit Offered at $2,710,678 CAD in New York, NY 10001

Description

Cushman & Wakefield is pleased to present for sale the ground floor retail cooperative at 146 West 29th Street (the “Property”), a well-positioned retail opportunity in the heart of Chelsea. The offering consists of approximately 3,500 square feet on the ground floor plus an additional 3,500± square feet on the lower level, currently configured as two separate retail stores. Each space includes roughly 1,750± square feet at grade with a dedicated 1,750± square foot lower level, providing flexible layouts suitable for a range of retail or service uses.

Both units are leased, delivering in-place income with tremendous upside potential. The westerly store is occupied by a t-shirt and gift shop with a lease through October 2027, while the easterly store is leased to a barber and beauty supply tenant through December 2030. Current rents are approximately 20%-30% below pre- COVID market levels, presenting a clear opportunity for mark-to-market growth. This staggered lease rollover offers a balanced profile of near-term cash flow and longer-term value creation through mark-to-market leasing, repositioning, or potential owner-user occupancy.

The units benefit from ground floor presence along West 29th Street, a well-trafficked corridor connecting Midtown South, NoMad, and Chelsea. The surrounding area is characterized by a diverse mix of retail, showroom, office, and residential uses, supporting consistent foot traffic and strong tenant demand. The flexible layout and sizing of each unit make them suitable for a variety of retail, showroom, or service-oriented uses.

146 West 29th Street is centrally located with excellent access to transportation. The property is within close proximity to Penn Station, providing access to Amtrak, Long Island Rail Road (LIRR), and New Jersey Transit. Multiple subway lines are also nearby, including the 1, 2, 3, A, C, E, B, D, F, M, N, Q, R and W trains, offering convenient connectivity throughout Manhattan and the outer boroughs.

Positioned in one of Manhattan’s most active and evolving submarkets, this offering presents an opportunity to acquire income producing retail with long-term upside in a prime Chelsea location.