The Reel

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A blog for breaking sales and neighborhood real estate news.

A mixed-use building at 213 Seventh Avenue, located between West 22nd and West 23rd Streets in Manhattan’s Chelsea neighborhood, was sold in an all-cash transaction valued at $6,700,000.
The five-story building contains approximately 4,687 square feet and sits on a 17’ x 60’ lot, with retail on the ground floor, community facility use on the second floor, and five residential units above. The building benefits from a tremendous amount of foot traffic on Seventh Avenue and the entire property was recently renovated. The sale price equates to approximately $1,429 per square foot. 
“Over a ten year average, fewer than two mixed-use buildings trade per year on the avenues in Chelsea. These rare offerings are always in high demand,” said Cushman & Wakefield’s Brock Emmetsberger, who exclusively represented the seller in this transaction. The buyer was represented by Greg Parassio from Lincoln Property Company.

Click here for press release

Neighborhoods: Chelsea