SPONSOR UNIT SALE -- RENT-CONTROLLED TENANT IN PLACE
Rare opportunity to acquire the final sponsor-owned unit in the distinguished Chelsea Warren, a highly regarded pre-war cooperative designed by renowned New York architect Horace Ginsberg. Perched on the top floor, this oversized one-bedroom home retains many of its original Art Deco details and classic pre-war proportions. The gracious layout includes a dramatic sunken living room (10 feet), a windowed kitchen and bath, and two large walk-in closets off the entry gallery. The corner bedroom is especially striking, featuring oversized south- and west-facing windows that meet at a 90-degree angle, creating exceptional natural light and an unusually open architectural feel.
Apartment is being sold with a long-term rent-controlled tenant in occupancy. Purchaser acquires shares and coop lease subject to all rights of the existing tenant in place. Current monthly rent is $1,351. Built in 1938, the Chelsea Warren is an impeccably maintained full-service cooperative with a live-in superintendent, three full-time porters, common laundry, bike storage, and private storage rooms. The building has undergone extensive recent capital improvements, including:
-Renovated lobby and hallways (2020)
-Local Law 11 exterior restoration (2021)
-New roof and sidewalks along West 20th Street and Seventh Avenue (2022)
-New landscaping, tree pits, and guard rails along the 20th Street retaining walls (2023)
-Coop owns 7 retail spaces. All retail is leased up.
Situated on a quiet, tree-lined Chelsea block directly across from Chelsea Green Park, the building enjoys close proximity to the Flatiron District, Greenwich Village, Madison Square Park, Union Square, the High Line, and many of Manhattan's most celebrated restaurants, markets, and cultural destinations, including Whole Foods Market, Trader Joe's, and Eataly. Multiple subway lines and Penn Station are also nearby.
Additional Information:
-Maintenance: $1,851/month
-Current assessment: $221/month through September 2027
-Apartment sold "as is"
-Apartment requires renovation
-Main photo is virtually staged
-Financing available through National Cooperative Bank (NCB) up to 70%; adjustable-rate products only.
