203 W 22nd St, New York, NY 10011

• Extensive Renovations: Completed in January 2018, the property underwent a comprehensive renovation, both inside and out. The updates include contemporary finishes in the kitchens and bathrooms, new flooring throughout the units, and enhanced building systems for energy efficiency and tenant comfort. Each unit is equipped with individual air conditioning units, tankless water heaters, and modern kitchen appliances. Tenants pay for their own A/C, heat, hot water, and electricity, which reduces the owner’s operating costs while providing tenants control over their utility usage. • Air Rights: The property has 1,303 square feet of additional air rights available per the FAR (Floor Area Ratio). This provides significant potential for future development, such as adding additional floors or expanding the current structure. This opportunity adds an extra layer of value for investors or developers seeking to increase the property’s footprint or further capitalize on its prime location. • Investment Opportunity: With its fully occupied units and leases extending through 2025, this property offers immediate income with the potential for long-term appreciation. The Chelsea location, combined with the building’s modern amenities and the added value of air rights, makes this an excellent opportunity for investors looking for stable cash flow, as well as those with an eye toward future development or renovation. The flexibility of being outside a historic district further enhances its investment appeal, as it allows for a variety of future uses or modifications. • Accessibility: The property is easily accessible by private and public transportation. It’s just a short walk to the 1, 2, and 3 subway lines at 23rd Street and the F and L subway lines at nearby stations. Multiple bus routes also serve the area, providing ample options for getting around the city. For those who prefer biking, the property is also located near dedicated bike lanes, further increasing its appeal to tenants and residents. • Prime Chelsea Location: Located at 203 West 22nd Street, this property is in the heart of Chelsea, a vibrant and highly sought-after neighborhood in Manhattan. Situated between Seventh and Eighth Avenues, within walking distance of some of NYC’s most iconic spots, including the High Line, Chelsea Market, and the Whitney Museum of American Art. The area is known for its art galleries, trendy restaurants, cafes, and excellent shopping. The property is also well-connected by public transportation, with subway access to the 1, 2, 3, F, and L trains, as well as several bus lines, making it easily accessible from any part of the city. • No Historic District Constraints: As the property is located outside a historic district, the new owner has flexibility for renovation and redevelopment plans, offering freedom to make alterations without being subject