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A blog for breaking sales and neighborhood real estate news.

Two four-story, mixed-use buildings at  252-54 Tenth Avenue, located between 24th and 25th Streets in Manhattan’s West Chelsea neighborhood, was sold in an all cash transaction valued at $5,150,000.

The two properties have a combined gross square footage of approximately 7,584 square feet. Together, the properties have four vacant retail stores and six free market floor-through apartments. West Chelsea has become one of the most sought after areas in Manhattan with residential condos selling for around $1,500 square feet. The sale price for this mixed-use building equates to $679 per square foot.

“The buyer is in a great position to benefit from the opening of the High Line’s second section. Retail along Tenth Avenue north of 20th Street should see an increase in foot traffic comparable to what businesses south of 20th Street experienced two years ago,” said Massey Knakal Director of Sales Brock Emmetsberger who exclusively handled this transaction with Partner James Nelson.

Click here for press release 

Neighborhoods: Chelsea