USANYNew York525 West 29Th Street 29Th Street
525 West 29th Street 29th Street | Image 1
New
525 West 29th Street 29th Street | Image 2
525 West 29th Street 29th Street | Image 3
525 West 29th Street 29th Street | Image 4
525 West 29th Street 29th Street | Image 5
525 West 29th Street 29th Street | Image 6
525 West 29th Street 29th Street | Image 7

$8,500,000

For Sale

8 days ago

525 West 29th Street 29th Street, New York, NY

MLS® 990168

0 Bed

0 Bath

--

--

  • Key Facts
  • Description
  • Map

Key Facts

Type Mixed Use
Levels Commercial Sale
Size -
Garage No
HOA Fees 
Taxes $70,000
Days Active 7
Approx. Age 
MLS® Number 990168

Property Address: 525 West 29th Street 29th Street, New York, NY, 10001

Average square foot calculated using Size range provided by listing agent.

Description

AIR RIGHTS ARE 21, 000 BUILDABLE. INVESTMENT OPPORTUNITY: 525 West 29th Street High-Yield Mixed-Use Asset | Direct High Line Frontage PURCHASE PRICE: $8, 500, 000 AIR RIGHTS: ~21, 000 SF (Market Valuation: $300/SF) Executive Summary For a 1031 exchange or private owner private residence in New Yorks premier location. This is one of a few rare gems left in NY to own! A rare acquisition opportunity in Manhattan’s premier West Chelsea Art District. This property offers a stabilized, low-overhead income stream with a massive "equity harvest" potential via 21, 000 SF of air rights. Annual Financial Pro Forma Gross Operating Income: $410, 600 Restaurant: $234, 000 (Occupied) Gallery: $96, 000 (Projected / Vacant) Residential: $45, 600 (Under Market) Tax Reimbursement: $35, 000 (Anchor Tenant Share) Annual Expenses: $56, 000 RE Taxes (Owner Share): $35, 000 Insurance: $21, 000 Utilities & Maintenance: $0 (100% Tenant Responsibility) NET OPERATING INCOME (NOI): $354, 600 PROJECTED CAP RATE: 4.17% The 1031 Exchange Play - Or Glamorous Single Residence - or Buildable Developer An investor can satisfy a 1031 requirement at $8.5M and subsequently liquidate the air rights (valued at approx. $6.3M) to a neighboring developer. This reduces the net basis in the building to $2.2M, resulting in a staggering 16%+ yield on the residual asset. DISCLAIMER: Figures are approximate. Consult with an Attorney and Architect to verify zoning, FAR, and transferability.
MLS® Number990168
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 24, 2026List Date
$8,500,000List Price
  • Commute

Commute

Starting Address
Destination Address
525 West 29th Street 29th Street, New York, NY

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment
Loading...

Similar Listings

Comparable Properties

Explore eXpFind an AgentJoin eXpInvestor RelationsCompany CareersHome Guides
eXp LifeZoocasaSUCCESS®SUCCESS® LendingeXp RevenoseXp CommercialeXp LuxuryeXp Land and RanchAccessibility
Terms and ConditionsPrivacy Rights RequestPrivacy PolicyCookie PolicyBrand GuidelinesHelpSitemap

2219 Rimland Drive, Suite 301, Bellingham, Washington, 98226

1 833-303-0610

[email protected]

eXp REALTY

© 2024 eXp Realty. eXp World Holdings, Inc. All Rights Reserved.

DMCA Notice

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply

Fair Housing and Reasonable Accommodations

MLS Compliance Statements

Karen Richards - Designated Managing Broker, Broker Operations - TX

Texas Real Estate Commission information about brokerage services

Texas Real Estate Commission Consumer Protection Notice

eXp Realty® is committed to adhering to the guidelines of The New York State Fair Housing Regulations.The Fair Housing Notice →

*Standardized Operating Procedure for Purchasers of Real Estate Pursuant to Real Property Law 442-H.Learn More →

eXp Realty of California, Inc. | CA DRE# 01878277 | Deborah Penny - Designated Broker

eXp Realty of Southern California, Inc. | CA DRE#01325837 | Jason Crawford – Designated Broker

eXp Realty of Greater Los Angeles, Inc. | CA DRE# 01240990 | Mike Mendibles - Designated Broker

eXp Realty of Northern California, Inc. | CA DRE# 01951343 | Ryan Rosas - Designated Broker

© 2026 eXp Realty. eXp World Holdings, Inc. All Rights Reserved