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261 W 28th St
New York, NY 10001
Onyx Chelsea · Retail Property For Sale
Property Facts
| Total Building Size | 58,194 SF | Floors | 11 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 5,290 SF |
| Property Subtype | Apartment | Year Built | 2006 |
| Building Class | B | Lot Size | 0.24 AC |
| Zoning | C6-2A - Contextual General Central Commercial Zoning district | ||
| Total Building Size | 58,194 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 11 |
| Typical Floor Size | 5,290 SF |
| Year Built | 2006 |
| Lot Size | 0.24 AC |
| Zoning | C6-2A - Contextual General Central Commercial Zoning district |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Wheelchair Accessible (Rooms)
Site Amenities
- Property Manager on Site
- Doorman
- On-Site Retail
- Roof Terrace
- Elevator
1 Unit Available
Unit Corner
| Unit Size | 1,400 SF | Cap Rate | 8.30% |
| Condo Use | Retail | NOI | $391,676.66 CAD |
| Sale Type | Investment |
| Unit Size | 1,400 SF |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 8.30% |
| NOI | $391,676.66 CAD |
Description
362 8th Avenue is a well-positioned mixed-use asset in the heart of Chelsea, one of Manhattan’s most active and resilient submarkets. The property benefits from exceptional transit access—just steps from Penn Station and multiple subway lines—driving consistent foot traffic and strong demand from both residents and retailers. Featuring a balanced combination of residential units and high-visibility ground-floor retail, the building offers stable in-place income with clear upside through strategic re-tenanting, modernization, and operational improvements. Surrounded by major commercial corridors, new
development activity, and a dense local population, 362 8th Avenue stands as a durable investment opportunity in a high-growth, transit-oriented Manhattan location.
Sale Notes
Income:
Tribeca Health (June 2028 LXP) $188,040
Tribeca Health (June 2028 LXP) $21,984
VACANT $192,000
Tax Recovery $40,200
CAM Recovery $4,500
Total Annual Income $446,724
Expenses:
Taxes $102,653
CAM $49,664
Insurance $4,046
Annual Expenses $156,363
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 52 | - | - |
