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245 W 14th St - Village Green West 3,964 SF Retail Condo Unit Offered at $5,300,603 CAD in New York, NY 10011
INVESTMENT HIGHLIGHTS
- Fully leased retail condo with over 8 years of WALT.
- Prime Chelsea location near West Village and Meatpacking.
- Tenant pays market rent and full tax contribution.
- Positioned at the base of a luxury residential building.
- 35 feet of high-visibility frontage on West 14th Street.
- Steps from multiple subway lines and major foot traffic.
EXECUTIVE SUMMARY
Excellent physical condition at the base of post war luxury condominium.
PROPERTY FACTS
| Total Building Size | 38,162 SF | Floors | 12 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 3,180 SF |
| Property Subtype | Apartment | Year Built | 2016 |
| Building Class | B | Lot Size | 0.12 AC |
| Zoning | C6-2A - Permit a Wide Range of High-Bulk Commercial Uses Requiring a Central Location | ||
| Total Building Size | 38,162 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 12 |
| Typical Floor Size | 3,180 SF |
| Year Built | 2016 |
| Lot Size | 0.12 AC |
| Zoning | C6-2A - Permit a Wide Range of High-Bulk Commercial Uses Requiring a Central Location |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Tile Floors
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Fitness Center
- Spa
- Gameroom
- Roof Terrace
- Storage Space
- Bicycle Storage
- Elevator
1 UNIT AVAILABLE
Unit GRND
| Unit Size | 3,964 SF | Sale Type | Investment |
| Price | $5,300,603 CAD | Cap Rate | 7.14% |
| Price Per SF | $1,337.19 CAD | NOI | $378,306.11 CAD |
| Condo Use | Retail |
| Unit Size | 3,964 SF |
| Price | $5,300,603 CAD |
| Price Per SF | $1,337.19 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 7.14% |
| NOI | $378,306.11 CAD |
DESCRIPTION
Building was constructed 7 years ago. Space features restroom in the rear and small contiguous basement. Architectural features, great storefront just off of 7th Avenue. Heavy foot traffic.
SALE NOTES
Located at the vibrant crossroads of Chelsea, the West Village, and the Meatpacking District, 245 W 14th Street presents a rare opportunity to acquire a fully leased retail condominium in one of Manhattan’s most dynamic corridors. This 4,318 SF retail asset—comprised of 3,964 SF above grade and 354 SF below grade—is positioned at the base of a 12-story luxury residential building constructed in 2015, offering a modern and well-maintained physical condition. The property boasts approximately 35 feet of prime frontage along West 14th Street, a high-traffic retail artery flanked by multiple subway stations and surrounded by a dense mix of residential, retail, and cultural destinations. Its strategic location ensures maximum visibility and consistent foot traffic, enhancing long-term tenant performance and asset value. Ocean Wireless Corp occupies the entire space under a market-rate lease through September 2033, contributing $103/SF in base rent and covering 100% of taxes over the base year. With over eight years of remaining weighted average lease term (WALT), the asset delivers stable cash flow and minimal management burden. The projected net operating income stands at $274,776, supported by a gross annual income of $410,925 and modest operating expenses. This offering is ideal for investors seeking a turnkey retail asset with strong in-place income, long-term tenancy, and exceptional location fundamentals in a supply-constrained submarket.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 25 | - | 1,474 |
| 3+3.5 | 1 | - | - |
| 4+3.5 | 1 | - | - |
CONTACTS
-
Maurice Suede -
Daniel O'Brien -
Ronald Solarz -
Michael Kavanagh -
Christine Felling -
Newmark
Presented by
245 W 14th St - Village Green West
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