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$8.95 Million Chelsea Mansion Hopes to Rival Our Suburb

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There's been an 11,000+-square-foot hole in our heart ever since the family-friendly palace at 2 North Moore Street finally found a buyer last year. At last, something has come along to fill the void a bit further uptown at 2 West 16th Street. Sure, it's just a 12,452-square-foot multi-family building with a hefty rent roll but no pool or three car garage?for now. This one's all about potential. The property is a rare 35' wide, occupied by one five-story building and a carriage house. The leases?which bring in anywhere from a rent-controlled $325/month on the carriage house to $4,800/month for a duplex?are mostly month-to-month, which means the place is ripe for a single-family mansion conversion. All this for $8.95 million, or $718/square foot. The listing itself invokes 2 North Moore's success at reselling for nearly $2,200/square foot. Can single-family mansion lightning strike twice?
· Listing: 2 West 16th Street [Massey Knakal]
· 2 West 16th Street [StreetEasy]

2 North Moore Street

2 North Moore Street, New York, NY 10013