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RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

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  1. Home
  2. Buy
  3. New York City
  4. Manhattan
  5. 10011
  6. 509 West 23rd Street
Property thumbnail
1 / 18
•Chelsea

509 West 23rd Street, New York City, NY 10011

Listing Courtesy of Keller Williams NYC

$7,400,000

Potential Rebate: $111,000

Studio
0 Baths
12 Rooms
3,400 sqft
Built 1910
4 Stories
2,176/ft²
Listed on Sep 22, 2025
96 days on market
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Overview

Entire Mixed-Use Building for Sale – Prime West Chelsea, Directly on the High Line

A rare offering in the heart of West Chelsea’s gallery district, this mixed-use building presents an exceptional opportunity combining residential stability, commercial visibility, and long-term investment potential. Positioned directly alongside the High Line, the property benefits from constant foot traffic, strong demand, and unparalleled neighborhood amenities.

Property Overview
Located directly adjacent to the High Line, the lot measures 20 feet by 74 feet with a total lot size of 1,480 square feet. The building contains approximately 3,400 square feet and features three residential units and a sizeable ground-floor retail and commercial space. Built in 1910, the property blends historic character with adaptability for modern use. Building class: C0, Three Families with Commercial Space.

Commercial Space
Ground floor: 700 square feet
Private outdoor patio: 700 square feet
Basement: 300 square feet
Frontage: 15 feet

The commercial space is a clean vanilla box configuration located directly below the 23rd Street entrance to the High Line. Features include a private rear patio and garden, HVAC and MEPs in good working condition, a restroom in place, and suitability for any dry-use operator.

Outdoor Spaces
The property includes a roof deck positioned approximately 15 feet above the High Line with strong southern views, as well as a private rear garden measuring roughly 33 feet by 19 feet.

Highlights
Three residential apartments provide consistent income, while the expansive retail space delivers prime exposure for galleries, boutiques, or hospitality concepts. The building is steps from major cultural anchors including the Whitney Museum, the High Line, world-class galleries, luxury developments, and the Meatpacking District. Both the High Line-facing roof deck and the private rear garden are exceptionally rare amenities in this corridor. Strong retail demand and continued neighborhood growth further elevate the investment profile.

Transportation
Close proximity to the C and E trains at 23rd Street offers convenient access to Midtown, Downtown, and the wider Manhattan transit network.

Summary
This is a rare opportunity to acquire a full mixed-use building in one of Manhattan’s most desirable and culturally significant neighborhoods. The property has received multiple upgrades, with full details available upon request. It is ideal for investors, developers, or end-users seeking long-term value in a premier High Line location.

Rent roll available upon request

Home Features

  • •In Unit
  • •Hardwood
  • •Full
  • •Closed Circuit Camera(s)
  • •Fire Escape
  • •City
  • •Neighborhood

Estimated Monthly Payment

$36,566 per month

30 year fixed, 6.28% Interest

Principal and Interest
$36,566
Property Taxes
$0
Maintenance/Common Charges
$0

Estimated Rebate for this Home

One-time rebate at closing

$111,000

Monthly savings impact

$308/mo

💡 Estimated at 1.5% of purchase price

The rebate is paid to you at closing and can help offset closing costs or other expenses.

Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).

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Experience

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Member

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Listings

RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

The Real Estate Rebate Team

Listing Courtesy of Keller Williams NYC

Data Source: TRESTLE #RLS20050229

REBNY Logo

Price Analysis

Compare average listing prices and value metrics for 509 West 23rd Street against the surrounding Chelsea market.

Based on 1 active units in building vs 171 in area

Average List Price

Building$7.4M
Neighborhood$4.5M

Price Per SqFt

Building Avg$2,176/ft²
Neighborhood Avg$2,041/ft²
Premium Market

6.64% Higher

than the Chelsea price-per-sq-ft average

This building commands a premium compared to the neighborhood baseline. This typically indicates superior amenities, newer construction, or prime positioning within Chelsea.

Chelsea

Art Galleries & High Line Living

\n

Chelsea is a cultural powerhouse. Known for its hundreds of art galleries, the High Line, and beautiful brownstone streets.

\n

Real Estate & Housing Market

\n

A mix of historic townhouses, pre-war co-ops, and ultra-luxury condos near the High Line. Very expensive.

\n

Lifestyle & Community

\n

Vibrant and diverse. The LGBTQ+ community has a strong historic presence. Chelsea Market draws foodies.

\n

Transportation & Accessibility

\n

C/E, 1, and F/M trains serve the area. Penn Station is at the northern border.

\n

Parks, Schools & Amenities

\n

The High Line is the crown jewel. Chelsea Piers offers massive sports facilities.

\n

Who This Neighborhood Is Best For

\n

Best for art lovers, active lifestyle enthusiasts, and those wanting a mix of historic and modern.

Chelsea GuideAll Neighborhoods
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