SERHANT. has been exclusively retained to represent 111 West 24th Street for sale.

Nestled in the heart of NoMad, where timeless architecture meets modern innovation, 111 West 24th Street presents a generational opportunity to acquire a seven-story, 46,560-square-foot commercial building with a distinguished past and unparalleled potential. Situated just steps from Madison Square Park, the Flatiron Building, and Chelsea, this full-building asset blends historic charm with forward-thinking design and use flexibility.

Originally constructed in 1902 as a commercial stable, the building has been transformed into a striking office and retail destination. It retains its buff-brick façade and classical pediment while offering a modern elevator, rooftop access, and state-of-the-art interiors. The asset encompasses six full-floor office levels and 11,500 square feet of retail across the ground floor and basement, all situated on a 50 x 115 ft lot in a high-demand commercial zone (C6-4X, M1-6).

With a current occupancy mix of leased, vacant, and IMD-designated units, 111 West 24th Street offers immediate leasing upside and long-term repositioning value. Projected gross income stands at $2.4M with a net operating income of $1.96M, representing a 7.02% cap rate at a $28M valuation. The asset is further bolstered by its tax class 4 designation and exemption status, allowing for capital-efficient operation.

From its iconic architectural heritage to its strategic Midtown South location, 111 West 24th Street is a landmark-ready for its next chapter—ideal for value-add investors, owner-users, or visionary developers looking to claim a piece of New York City’s evolving commercial core.