Eastern Consolidated chosen to market 507 West 24th Street

Eastern Consolidated has been named the exclusive agent to market 507 West 24th St., a newly constructed, one-story commercial property situated directly beneath The High Line in West Chelsea, for $16 million. Eastern Consolidated chairman and CEO Peter Hauspurg, senior director Brad Cohen, director Evan Papanastasiou, and senior director of financial services Gary Meese exclusively represent ownership: Scott Resnick of SR Capital, LLC. The 7,200 s/f property - with 3,900 s/f on the ground floor and 3,300 s/f on the lower level - stands below the section of the High Line that runs over West 24th St., off of the northwest corner of Tenth Ave. and one block north of a High Line access point at West 23rd St. It is currently occupied by 303 Gallery - an art gallery - but it will be delivered with a clear path to vacancy at the time of sale. "This well-constructed, distinctive property represents a great opportunity for a cutting-edge retail concept," said Cohen. "Its location in one of the most desirable and recognized art districts in the world makes it ideally suited for a gallery or showroom. We expect this offering to generate interest from a variety of users and investors because of its notable, unique location." Papanastasiou said, "Apart from its exceptional positioning beneath the High Line, another notable feature about this rare, one-story asset is the usability and accessibility of its lower level, which features ten-foot ceilings and an elevator to the ground floor." The property also offers 40 ft. of frontage on 24th St., the city's premier address amongst gallerists, as well as 15-ft. ceilings on the ground floor, and easy access to the West Side Highway and C and E subway lines. 507 West 24th St. also benefits from its close proximity to Chelsea Piers and Hudson River Park; a wide array of cultural, dining, and nightlife amenities; and neighboring galleries Pace Gallery and Bryce Wolkowitz Gallery. Scott Resnick of SR Capital, LLC, the current owner of 507 West 24th Street, is also nearing completion of construction on a nearby 19-story condominium tower at 551 West 21st St.