The Reel

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A blog for breaking sales and neighborhood real estate news.

A loft building at 230 Seventh Avenue, located between West 23rd and 24th Streets in Manhattan’s Chelsea neighborhood was sold in an all-cash transaction valued at $4,250,000.

Located on one of Chelsea’s main commercial thoroughfares, this four-story building is approximately 5,979 square feet and contains three loft units and a ground floor retail unit. The property benefits from high ceilings on all floors and a significant amount of unused air rights that can be used for additional development. The sale price equates to approximately $711 per square foot.

“We received over 25 offers during our marketing period, so there was certainly a high level of demand for this property,” said Massey Knakal Vice Chairman and Partner John F. Ciraulo, who exclusively handled this transaction with Director of Sales Brock Emmetsberger.

Click here for press release

Neighborhoods: Chelsea/ Agents: John Ciraulo