142-144 W 29th St
New York, NY 10001
Commerce de détail Propriété À vendre

BKREA is exclusively offering 142 West 29th Street, a boutique development site located in the heart of Chelsea, one of Manhattan’s most vibrant and evolving neighborhoods. Positioned between Sixth and Seventh Avenues, the site features 32.5 feet of frontage and currently houses a two-story commercial building that will be delivered vacant, allowing for immediate redevelopment.
The property is situated in an M1-6 zoning district, permitting up to 10.0 FAR for commercial or manufacturing use, totaling approximately 32,240 ZFA. Under the proposed Midtown South Mixed-Use Rezoning (MSMX), the site would be reclassified to M1-8A/R11, enabling residential use as-of-right and increasing the total FAR to 15.0, or approximately 48,360 ZFA. This includes up to 12.0 FAR for commercial use and mandates compliance with Mandatory Inclusionary Housing (MIH), offering developers a flexible mix of residential, commercial, and community facility options.
Chelsea’s dynamic blend of high-end residential, office, and hospitality developments makes this location ideal for long-term value creation. The site is just a three-minute walk from the 1 train at West 28th Street and Seventh Avenue, with additional access to the B, D, F, M, N, Q, R, and W subway lines nearby. Its walk-to-work convenience and proximity to major employment hubs, cultural institutions, and lifestyle amenities position it as a compelling opportunity for developers seeking a manageable, high-impact project in Manhattan.