324 West 15th Street, New York, NY, 10011, US

324 West 15th Street

Attributes

Land area gross

7,294 sf

Zoning

R8B

ZFA

29,176

Lot Dimensions

75' x 103.25'

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) and OPEN Impact Real Estate LLC (“OPEN”), licensed real estate brokers, have been retained on an exclusive basis to arrange the sale of the building of Corlears School (the “Property” or “Site”). The Property is a prime candidate for a residential development / conversion in a pristine neighborhood of NYC. Additionally, the Property presents educational or nonprofit organizations with move-in-ready facilities in excellent condition.

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Investment Highlights

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.