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.
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Neighborhoods: Chelsea