Description

212 West 29th Street (Block 778, Lot 47) is a mid-block development site located on the south side of West 29th Street between Seventh and Eighth Avenues in the heart of Chelsea. The property spans approximately 2,419 square feet with 24.5 feet of frontage and a depth of 98 feet, and is currently improved with a four-story building totaling roughly 9,212 square feet. Zoned M1-6D, the site allows a base FAR of 10.0 for residential or commercial use, providing approximately 24,190 square feet of as-of-right zoning floor area, which can increase to 29,028 square feet under the Universal Affordability Preference program. Additionally, the recently approved Midtown South Rezoning would rezone the site to M1-8A/R12, allowing for significant residential development potential of up to approximately 43,542 buildable square feet, subject to Mandatory Inclusionary Housing requirements. Ideally situated near Penn Station, Hudson Yards, the High Line, and NoMad, this boutique Chelsea site offers immediate redevelopment potential, multiple exit strategies, and substantial upside in a rapidly evolving and high-demand Manhattan submarket.