Description

Jones Lang LaSalle (“JLL”) has been exclusively retained to arrange the sale of 108–110 9th Avenue (the “Property”), two adjacent 5-story mixed use buildings situated on the northeast corner of 9th Avenue and West 17th Street in the heart of Chelsea, Manhattan. The Property contains 22,617 total gross square feet and 38 total units, inclusive of 34 residential units

and 4 ground-floor retail spaces, offering investors a stable in-place cash flow with meaningful upside through the eventual turnover of regulated units and mark-to-market opportunities within the free market component.

The residential unit mix comprises 23 free-market units, 2 rent-stabilized market units, 7 rent-stabilized units, and 2 rent-controlled units. This diversified composition provides a stable income base with long-term upside potential as the units are repositioned and renovated. Current free-market rents average approximately $5,213 per month, with strong demand for one- and two-bedroom layouts supporting continued rental growth. Of the 23 free-market units, 7 are one-bedroom and 16 are two bedroom configurations, a well-balanced distribution that aligns with neighborhood demand and caters effectively to the young professional demographic drawn to the area, particularly due to its proximity to major employers such as Google.

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