Description

BKREA has been exclusively retained to arrange the sale of 142 West 29th Street, a mixed-use development opportunity located on the south side of West 29th Street between Sixth and Seventh Avenues in the heart of Chelsea, Manhattan. The site features 32.5 feet of frontage and is currently improved with a two-story commercial building that will be delivered vacant. Under the existing M1-6 zoning with a 10.0 FAR, the property allows approximately 32,240 zoning floor area for commercial or manufacturing use, while the proposed MSMX rezoning would permit M1-8A/R11 zoning, enabling residential use as-of-right with a total FAR of 15.0, or approximately 48,360 zoning floor area, including up to 38,688 square feet for commercial use, subject to Mandatory Inclusionary Housing requirements. Situated in a prime Chelsea location known for high-end residential, office, and hospitality development, the property offers strong walk-to-work convenience, close proximity to major subway lines including the 1 train at West 28th Street and Seventh Avenue, and represents a rare boutique development opportunity with meaningful upside tied to potential rezoning in one of Manhattan’s most dynamic and evolving neighborhoods.