Meridian Investment Sales is pleased to present the exclusive offering for the retail condominium at 127 7th Avenue. At the base of a luxury, recently constructed building, the opportunity consists of a 100% occupied retail condominium with 3,499 GSF located at the southeast intersection of West 18th Street and 7th Avenue in the Chelsea neighborhood. Given the building was recently constructed and in excellent condition, investors will benefit from minimal maintenance. The retail condominium features 2,064 SF of ground floor retail with an additional 1,432 SF of below grade space and has no use restrictions. Occupied by UPS and a boutique nail salon, this unique opportunity allows investors the opportunity to purchase a cash flowing retail asset in one of Manhattan’s busiest corridors with a WALT of over 13.5 years with strong in-place tenants. The UPS location is an experienced and reputable franchisee with several locations throughout the NYC area. Currently, the real estate taxes account for over 37% of effective gross income, well above market, presenting an investor the ability to petition the real estate taxes and immediately decrease taxes. In addition, UPS and the nail salon reimburse 50% and 40% of real estate tax increases, respectively, over the 2022/2023 real estate tax base year. Therefore, given both tenants have reimbursements, investors will enjoy minimal carrying costs and durable income with strong in-place tenants with a WALT of over 13.5 years and the possibility to immediately petition and lower real estate taxes. Chelsea has emerged as one of the most desirable residential enclaves in New York City. With luxury residential condominium sales in excess of $2,000 PSF and rentals eclipsing $120 PSF, 127 7th Avenue benefits from the surrounding growth and dense residential demographics. The historic neighborhood is lined with unique shops, world class dining options, and vibrant night life. The property is well located proximate to several local trains, providing expedient access throughout Manhattan and into Brooklyn/Queens including the 14th Street PATH station, D, F, and M train at 14th Street and Sixth Avenue, the A, C, E, and L trains at 14th Street and Eighth Avenue, the 1 train at 18th Street and Seventh Avenue. As a result of the accessibility, 7th Avenue is a highly coveted retail location given the foot traffic and visibility. The retail condominium is also surrounded by several large employers including Meta, Google, and Apple resulting in significant residential rental and condominium demand. Therefore, given the access to mass transportation and proximity to large employers and institutions, 127 7th Avenue offers excellent visibility and foot-traffic. Overall, 127 7th Avenue offers investors a prime 100% occupied retail condominium in a luxury building with over 13.5 years of WALT and strong tenancy.