Map of Property

The Garage Unit at 85 8th Avenue

For Sale

85 8th Ave, New York, NY 10011

This New York property for sale is located at 85 8th Ave. The current listed sale price for The Garage Unit at 85 8th Avenue is $7,500,000.

Contacts

Chris Brodhead

Ariel Property Advisors

Howard Raber

Ariel Property Advisors

Wil Ades

Ariel Property Advisors

Property Details

  • Property Type Special Purpose
  • Property Size 11,826 SF
  • Cap Rate % 5.37
  • NOI / YR $403,071.00
  • Taxes / YR $40,560.00
  • Parking Spaces Avail. 47
  • Parking Ratio 3.97 / 1,000 SF
  • Date Updated Oct 1, 2026

Investment Highlights

Prime Chelsea Location: The garage is located off the corner of 8th Avenue and West 14th Street in the heart of Chelsea, with direct access to the A, C, E, and L. Sitting directly across the street from Google NYC HQ and within walking distance of Chelsea Market, the High Line, Whitney Museum, Chelsea Piers, and the West Side Highway.

Limited Parking Supply: Since 2013 the Manhattan Core Parking Regulations require all new parking garage developments or expansions in Manhattan to have a discretionary City Planning Commission special permit. With limited supply this is a rare opportunity to own a parking garage in one of Manhattans most popular neighborhoods.

Strong Cash Flow: The garage unit is leased out until 2031 with Icon Parking. The lease has 2% annual rent increases, requires the tenant to pay all real estate tax increases over the base year (July 2017-June 2018), and pay all condo charges. The current NOI is $403,071.

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Location

  • City New York, NY
  • Neighborhood Chelsea
  • Zip Code 10011

Points of Interest

  • 28th Street

    0.67 miles

  • Broadway & 23rd Street at Southeast Corner

    0.70 miles

  • Broadway & 23rd Street at Northeast Corner

    0.71 miles

  • Union Square

    0.75 miles

  • Moynihan Train Hall

    0.81 miles

  • No. 2 Penn Plaza Entrance

    0.86 miles

  • 7th Avenue & 33rd Street at Northwest Corner

    0.91 miles

  • 33rd Street

    0.91 miles

  • 33rd St / 7th Av

    0.95 miles

  • 3rd Avenue

    0.96 miles

  • Mobil

    0.11 miles

  • Blink

    0.31 miles

  • ChargePoint

    0.34 miles

  • BP

    1.51 miles

  • Gulf

    2.66 miles

  • Citgo

    2.73 miles

  • Sonamax

    2.93 miles

  • Vincent 15 Parking LLC

    0.32 miles

  • Icon Parking

    0.54 miles

  • MPG Manhattan Parking: MP Hudson

    0.88 miles

  • City Parking

    0.94 miles

  • Pier 40

    0.94 miles

  • SP+

    0.96 miles

  • Edison ParkFast

    1.04 miles

  • MPG Parking Javits Center

    1.11 miles

  • Lot 9

    1.14 miles

  • Lot 10

    1.18 miles

  • Hotel 309

    0.04 miles

  • Chelsea Pines Inn

    0.05 miles

  • Dream Downtown

    0.14 miles

  • Maritime Hotel

    0.16 miles

  • Hotel Gansevoort

    0.17 miles

  • Soho House New York

    0.19 miles

  • Chelsea international hostel

    0.27 miles

  • The Standard

    0.30 miles

  • The GEM Hotel Chelsea

    0.34 miles

  • Colonial House

    0.34 miles

  • Chelsea Market

    0.17 miles

  • Westside Market

    0.20 miles

  • Barneys New York

    0.21 miles

  • Western Beef

    0.25 miles

  • D'Agostino

    0.31 miles

  • Gristedes

    0.32 miles

  • Dainobu

    0.39 miles

  • Marshalls

    0.41 miles

  • TJ Maxx

    0.42 miles

  • The Locavore Variety Store

    0.45 miles

Contact The Garage Unit at 85 8th Avenue
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