241 W 14th St - Specialty FOR SALE


New York, NY 10011- Chelsea
$13,750,000 USD
212-589-5124
241 W 14th St, New York, NY for Sale
$13,750,000 USD
Specialty - FOR SALE
1/5
null | Request Cap Rate

241 W 14th St
New York, NY 10011
Chelsea


HIGHLIGHTS

  • Significant Value-Add Opportunity
  • Prime Location
  • Flexibility in Use
  • Elevator Building
  • Historically and Architecturally Significant
  • Outdoor Space (Garden and Deck)

OVERVIEW

Cushman & Wakefield has been exclusively retained to arrange the sale of the property located at 241 West 14th Street, an elevator townhouse in the West Village Neighborhood of Manhattan. The property is centrally located on the north side of West 14th Street between 7th and 8th Avenues. This townhouse spans approximately 10,330 rentable square feet with an additional ±1,980 square feet of below-grade space. Built in 1874 by Andrew S. Norwood, the building is a historic and architecturally significant property that was formally known as the Norwood House, a social club that targeted members in the creative fields: painters, musicians, writers, fashion designers, and collectors. Located at the intersection of the West Village, Meatpacking District, and Chelsea, 241 W 14th Street benefits from strong neighborhood fundamentals and an affluent, growing residential base. With its proximity to iconic shopping destinations, world-class restaurants, and popular cultural attractions, the property attracts consistent foot traffic from both locals and tourists. The asset also enjoys excellent public transportation connectivity, with multiple subway lines within walking distance, 1, 2, 3, A, C, E, L, F, & M. The building offers flexible use options, including retail and office space, attracting a diverse range of tenants across retail, media, and professional services. Furthermore, the property contains a commercial kitchen and a large amount of outdoor space, including a rear garden and a deck off the top floor. This appeals to many unique uses, such as a private club. As a value-add opportunity, the property has the potential to generate significant cash flow through strategic lease-ups, tenant repositioning, and targeted capital improvements. Additionally, it provides the unique option to convert the space into a single or multi-family residential townhouse, further enhancing its versatility and investment appeal.

FOR SALE DETAILS

PRICE

$13,750,000 USD

PRICE/SF

$870 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Norwood Club

PROPERTY TYPE

Specialty

ADD'L SUBTYPES

Restaurant, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1847

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,011 SF

ZONING

C6-2A

APN/PARCEL ID

0764-0015

ASK ABOUT THIS PROPERTY

Andrew BerryCushman & WakefieldMore Info
212-589-5124

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Andrew BerryCushman & WakefieldMore Info
212-589-5124

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.