OPPORTUNITY FOR RESIDENTIAL CONVERSION

This 29,176 BSF Property presents a unique opportunity for residential conversion in one of the city’s most desirable neighborhoods. The existing structure, with its prime location and generous square footage, is ideally suited for transformation into high-end residential units.

The property’s current configuration allows for creative reimagining of the space, with potential for luxury apartments or condominiums that would be highly sought after in this premium market. The building’s footprint and existing infrastructure provide a solid foundation for an innovative residential redevelopment project

PLUG AND PLAY SPACE FOR EXISTING EDUCATION & NONPROFIT USERS

The Property presents educational institutions with a unique opportunity to acquire a turnkey, fully built-out school space in a prime Manhattan location. The 20K SF facility offers immediate occupancy, allowing for seamless expansion or establishment of operations in one of New York City’s most soughtafter areas.

Situated on the border of Chelsea and the West Village, this ready-to-use educational space provides an exceptional chance for both local and out-of-state institutions to secure a foothold in one of the world’s premier education hubs. The existing layout includes classrooms, administrative offices, and other essential academic facilities, enabling institutions to commence operations without delay.

Market Overview

PRIME LOCATION: Situated in the heart of Manhattan, West Village and Chelsea benefit from excellent connectivity, cultural amenities, and a diverse community. The area is well-served by public transportation, including multiple subway lines and bus routes.

STRONG REAL ESTATE DEMAND: The area has consistently shown resilience in the real estate market, with high demand for both residential and commercial properties. This stability makes it an appealing option for long-term investments.

DIVERSE NEIGHBORHOOD CHARACTER: West Village is known for its charming tree-lined

streets, historic brownstones, and intimate cafes, while Chelsea offers a mix of art galleries, highend retail, and modern residential developments.

This diversity appeals to a wide range of potential occupants.

CULTURAL HUB: The neighborhoods are at the epicenter of New York City's art scene, with numerous galleries, theaters, and performance spaces. The High Line, an elevated linear park,has become a major attraction, further boosting the area's appeal.

ROBUST COMMERCIAL SECTOR: Both neighborhoods to a thriving tech industry,

with major companies like Google maintaining significant presence. This contributes to a strong local economy and steady demand for both commercial and residential spaces.

STRONG RENTAL MARKET: West Village and Chelsea consistently command high rental rates, making them attractive for residential development and investment. With an average household income of around $180,000, the neighborhood's this combination of strong

demand and high incomes makes the West Village a prime target for real estate ventures in Manhattan.

FUTURE GROWTH POTENTIAL: Ongoing investments in infrastructure, public spaces,

and local businesses continue to enhance the neighborhoods' appeal, suggesting sustained long-term value for property investments.