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Investment Highlights

  • New Renovated
  • Rooftop Views of the Empire State Building
  • Stunning Restaurant and Cocktail Lounge

Executive Summary

21 West 35th Street is a newly renovated, three-story retail building featuring a premier restaurant and a destination rooftop cocktail lounge.? The ground and second floors are leased to Niku X by Chubby Cattle, while the rooftop is leased to BarChef NYC.? Both tenants operate under NNN leases, providing stable and predictable cash flow.?The property has undergone a complete gut renovation, including the installation of a fully equipped commercial kitchen in the basement.? The rooftop features a retractable roof, making it highly attractive for seasonal use.? Ownership has invested approximately $8 million into the comprehensive transformation of the building.? Situated in a prime Midtown Manhattan location, the property offers convenient access to multiple subway lines—N, Q, R, W, 1, 2, 3, B, D, F, and M—and is within close proximity to Herald Square, Koreatown, NoMad, and Penn Station.? The area benefits from exceptionally high pedestrian traffic and is surrounded by popular dining, retail, and entertainment destinations.? The anchor tenant is backed by Chubby Group, which has raised over $45 million in equity at a $300 million valuation in early 2025, enhancing the overall credit profile of the tenancy.?
?Newly renovated restaurant and rooftop cocktail lounge NNN tenants
?One block from the Empire State Building and Herald Square
?Vented | gas | electric
?Active liquor licenses
?Heavy foot traffic
?Nearby subway lines: N, Q, R, W, B, D, F, M, 1, 2, 3
?21 w 35th we gave Retail 6 month rent loan starting Sept 1 2026 in exchange of taking rooftop lease for $25,000 month to be repaid in monthly installements.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,516 SF
Building Class
B
Year Built
2024
Price
$13,000,000
Price Per SF
$1,995.09
Cap Rate
8.31%
NOI
$1,080,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.99
Lot Size
0.05 AC
Zoning
M1-6 - Light industrial with offices, hotels, and most retail uses permitted
Frontage
22’ on 35Th St

Amenities

  • Restaurant
  • Security System
  • Signage
  • Signalized Intersection
  • Tenant Controlled HVAC
  • Wheelchair Accessible
  • Air Conditioning
  • Smoke Detector

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • rooftop
  • 2,000 SF
  • Retail
  • In-Line
  • 30 Days

2,000 SF | Fully Built-Out Rooftop with Glass enclosure with | Active Liquor License Step into a turnkey rooftop venue in the heart of Midtown South, where stunning, unobstructed views of the Empire State Building set the scene. Newly renovated with tasteful, design-forward finishes, this 2,000 SF space features two bars with barstool seating, elevator access, and an active liquor license — ready for immediate operation. Positioned between Fifth and Sixth Avenues, the property sits less than one block from the Empire State Building and the Herald Square retail corridor, surrounded by NYC's most dynamic mix of restaurants, nightlife, and retail. Heavy foot traffic flows past throughout the day, with walking-distance access to Penn Station, Moynihan Train Hall, and nearly every major subway line (N, Q, R, W, B, D, F, M, 1, 2, 3). A rare opportunity to own one of Midtown's most coveted rooftop addresses.

Space Size Space Use Position Available
rooftop 2,000 SF Retail In-Line 30 Days

rooftop

Size
2,000 SF
Space Use
Retail
Position
In-Line
Available
30 Days

rooftop

Size 2,000 SF
Space Use Retail
Position In-Line
Available 30 Days

2,000 SF | Fully Built-Out Rooftop with Glass enclosure with | Active Liquor License Step into a turnkey rooftop venue in the heart of Midtown South, where stunning, unobstructed views of the Empire State Building set the scene. Newly renovated with tasteful, design-forward finishes, this 2,000 SF space features two bars with barstool seating, elevator access, and an active liquor license — ready for immediate operation. Positioned between Fifth and Sixth Avenues, the property sits less than one block from the Empire State Building and the Herald Square retail corridor, surrounded by NYC's most dynamic mix of restaurants, nightlife, and retail. Heavy foot traffic flows past throughout the day, with walking-distance access to Penn Station, Moynihan Train Hall, and nearly every major subway line (N, Q, R, W, B, D, F, M, 1, 2, 3). A rare opportunity to own one of Midtown's most coveted rooftop addresses.

Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100

Nearby Major Retailers

UFC Gym
CorePower Yoga
Life Time
Pret A Manger
Starbucks
Bank of Hope
Citi
Chase
Bank of America
Capital One

Property Taxes

Property Taxes

Parcel Number
0837-0029
Land Assessment
$702,000
Improvements Assessment
$1,109,250
Total Assessment
$1,811,250
  • Listing ID: 33806368

  • Date on Market: 11/8/2024

  • Last Updated:

  • Address: 21 W 35th St, New York, NY 10018

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