109-111 W 24th St

46,564 SF Vacant Office Building New York, NY 10011 $28,000,000 ($601/SF) 7.02% Cap Rate

INVESTMENT HIGHLIGHTS

  • 90' frontage Retail storefront - GREAT FOR FLAGSHIP
  • Incredible opportunity for leveraging CITY OF YES Initiative
  • Open floor plans or ability to subdivide
  • Renovated with brand new finishes, elevator, and electric
  • Projected 7.02% cap rate with ability for an owner-end user option

EXECUTIVE SUMMARY

SERHANT. & Okada & Co, as the exclusive agents, are proud to present 111 West 24th Street in the coveted Flatiron NoMad neighborhood. 111 West 24th Street is a premier 46,560-square-foot, 7-story office and retail building offering an exceptional blend of timeless architecture and modern design.
Key features:
$5,000,000 in recent renovations delivering space in white box condition
Modern interiors with elevator and add value opportunity with rooftop deck
Ideal for flagship retail with 90' of frontage
Exposed brick with large triple window exposures and hardwood floors
Large keyed elevator
International marketing exposure on the largest streaming platform, Netflix
With state-of-the-art interiors and a classic façade, this building is thoughtfully equipped with an elevator and a rooftop deck, providing an unmatched experience for tenants and owner end users alike. Its strategic location, just one avenue from Madison Square Park, the Flatiron Building, and the Empire State Building, connects seamlessly to the vibrant Chelsea and Flatiron neighborhoods.
KEY WORD SEARCHES : skylight, natural light, high exposed ceilings, exposed brick, polished concrete floors, storage area, tenant controlled central AC, HVAC after hours, meatpacking, creative, restaurant, cafe, venting, photography, architect, design, fashion, showroom, tech, technology, media, finance, financial, venture capital, private equity, trophy, high end, beautiful, amazing, spectacular, Alibaba, Apple, Audemars Piguet, Asics, Bally, Belstaff, Brunelli Cucinelli, Catch, Chelsea Market, Diane von Furstenberg, Fjallraven, Frame, Gansevoort Hotel, Giorgio Armani, Google, Gucci, High LIne, Hermes, Intermix, Kiehl's, Palantir, The Kooples, Live Nation, Loro Piana, lululemon Athletica, Marni, Patagonia, Rag & Bone, Restoration Hardware, Rolex, Samsung, Soho House, Standard Hotel, Starbucks Reserve, Tesla, Theory, Vans, Vince, Whitney Museum of American Art

PROPERTY FACTS

Sale Type
Investment or Owner User
Sale Conditions
1031 Exchange
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
46,564 SF
Building Class
B
Year Built
1902
Price
$28,000,000
Price Per SF
$601
Cap Rate
7.02%
NOI
$1,966,103
Percent Leased
Vacant
Tenancy
Multiple
Building Height
7 Stories
Typical Floor Size
5,711 SF
Slab To Slab
12’
Building FAR
8.15
Lot Size
0.13 AC
Zoning
C6-4X/M1-6 - Commercial/Residential area. Currently, a loft office building can be converted into residential

AMENITIES

  • Bus Line
  • Metro/Subway

MAJOR TENANTS Click Here to Access

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Nomad Mics
  • Retailer
  • -
  • $9.99
  • Lorem Ipsum
  • Jan 0000
TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Nomad Mics Retailer - $9.99 Lorem Ipsum Jan 0000

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • Ground
  • 5,500 SF
  • Retail
  • Shell Space
  • Now

Pleased to present a prime retail space located in the heart of Chelsea White boxed retail with new facade and 4,500SF in the basement 3 Stairs connecting ground floor & basement 14' ceilings

  • 4th Floor
  • 6,810 SF
  • Office
  • Full Build-Out
  • Now

The 4th floor at 111 West 24th Street is a 6,810 SF full floor office space The floor is currently white boxed with new bathrooms, electric, HVAC, lights etc Ownership can build to suit New Lobby, New Elevator Cab, New MEP'S etc.

  • 5th Fl-Ste 501
  • 4,000 SF
  • Office
  • Full Build-Out
  • Now

The 5th floor at 111 West 24th Street is a 4,000SF full floor office space The floor is currently white boxed with new bathrooms, electric, HVAC, lights etc Ownership can build to suit New Lobby, New Elevator Cab, New MEP'S etc.

  • 7th Fl-Ste PH
  • 6,810 SF
  • Office
  • Full Build-Out
  • Now

The Penthouse at 111 West 24th Street is a 6,810 SF full floor office & commercial space with private dedicated roof deck. The space is currently 90% done with the prebuild, however, the landlord will build to suit. New Lobby, New Elevator Cab, New MEP'S etc.

Space Size Space Use Condition Available
Ground 5,500 SF Retail Shell Space Now
4th Floor 6,810 SF Office Full Build-Out Now
5th Fl-Ste 501 4,000 SF Office Full Build-Out Now
7th Fl-Ste PH 6,810 SF Office Full Build-Out Now

Ground

Size
5,500 SF
Space Use
Retail
Condition
Shell Space
Available
Now

4th Floor

Size
6,810 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

5th Fl-Ste 501

Size
4,000 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

7th Fl-Ste PH

Size
6,810 SF
Space Use
Office
Condition
Full Build-Out
Available
Now
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (93)

PROPERTY TAXES

  • Listing ID: 34630143

  • Date on Market: 1/28/2025

  • Last Updated:

  • Address: 109-111 W 24th St, New York, NY 10011