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123 W 20th St
New York, NY 10011
Multifamily Property For Sale
·
5 Units
Investment Highlights
- Situated in the heart of one of Manhattan’s most desirable neighborhoods
- 9 total units—5 residential, 2 retail storefronts, and 2 office units (in conversion to residential).
- All residential units are free market with private outdoor space and two full bathrooms.
- 17,149 sq ft above ground + 4,749 sq ft finished cellar = 21,898 sq ft total.
- 8 out of 9 units will be delivered vacant—ideal for immediate repositioning or condo conversion.
- New roof, windows, exterior repointing, and fully renovated bathrooms.
Executive Summary
Located in the heart of Chelsea, this five-story elevator building at 123-125 W 20th St offers a rare mixed-use investment opportunity with strong income potential and condo conversion opportunity. Spanning over 17,149 sq ft above ground plus a 4,749 sq ft finished cellar. Which it includes 3,416 sq ft of retail space. This modern, low-maintenance brick building currently includes 9 total units: five residential, two commercial storefronts, and two offices currently being converted to residential. Eight units will be delivered vacant, and all residential units are free market with private outdoor space, two full bathrooms, and condo conversion ready mechanicals including separate boilers, electrical panels, and meters. Recent upgrades include full exterior brick repointing, new windows and doors, renovated bathrooms, and a brand-new roof all completed in 2024. Ceiling heights range from over 10 feet on the upper floors to 8.5 feet in the basement. The property includes approximately 14,449 sq ft of unused air rights, offering future development potential or the option to sell at market value. One commercial tenant is in place through 2026, currently generating over 20K/month in rent with built-in escalations. Whether you're looking to hold as an income-producing asset or develop luxury condos, this is a premier opportunity in one of Manhattan's most desirable neighborhoods.
Property Facts
| Price Per Unit | $6,000,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| No. Units | 5 | Building Size | 17,354 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built/Renovated | 1900/2013 |
| Apartment Style | Mid-Rise | ||
| Zoning | C6-3A - is a contextual sub district of C6 Zoning and C6-3 Zoning in NYC a commercial zoning district with optional residential use. | ||
| Price Per Unit | $6,000,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 17,354 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1900/2013 |
| Zoning | C6-3A - is a contextual sub district of C6 Zoning and C6-3 Zoning in NYC a commercial zoning district with optional residential use. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Wheelchair Accessible (Rooms)
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Smoke Free
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | - |
Property Taxes
| Parcel Number | 0796-0023 | Improvements Assessment | $1,947,600 |
| Land Assessment | $468,000 | Total Assessment | $2,415,600 |
Property Taxes
Parcel Number
0796-0023
Land Assessment
$468,000
Improvements Assessment
$1,947,600
Total Assessment
$2,415,600
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