Cushman & Wakefield has been exclusively retained by ownership to offer for sale a 100% fee simple interest in 232 7th Avenue located in Chelsea, Manhattan (the “Offering” or the “Property”). 232 7th Avenue is a 16-story, Class-A boutique residential asset consisting of 49 units and 2 ground floor retail spaces. The asset boasts over 46,863 square feet of residential space and 5,090 square feet of fully leased retail space. The residential portion of the Property is 100% leased to Synergy Global Housing, a fully furnished extended stay (30 nights or longer) operator, who has occupied the space since delivery with a lease expiration of December 2027.

Recently built in 2018, 232 7th Avenue offers a luxurious experience with modern finishes and amenities to attract residents seeking to live in one of the most popular, centrally located neighborhoods in NYC. The Property features a unit mix comprised of 38 one- bedroom and 11 two-bedroom residences with condo- level interior finishes, floor-to-ceiling windows, a desirable amenity package, and incredible rooftop terrace with sweeping 360 views of Manhattan. The Property benefits from a multitude of transportation options for easy access to all areas of New York City via the 1, 2, A, C, E, F, and M, trains all within 500 feet of the entrance.

The Offering represents the unique opportunity to acquire a luxury Class-A 100% fair market multifamily building well below replacement costs, in a growing rent environment which is experiencing one of the greatest supply-demand imbalances in history. Moreover, Ownership is exploring the idea of converting the current residential CofO to transient use in order to maximize cash flow of the Property by operating as a Hotel asset.

All inquiries should be directed to Cushman & Wakefield.