Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Sells Loft Building In Chelsea

10/29/2013

A loft building at 209 West 18th Street, located between Seventh and Eighth Avenues in Manhattan’s Chelsea neighborhood, was sold in an all-cash transaction valued at $9,000,000.

The five-story building contains approximately 11,000 square feet and sits on a 25’ x 92’ lot.  It features a curb cut, large south-facing windows, over 12 feet high ceilings on the ground floor, and a large commercial elevator shaft.  The building was delivered vacant, and the sale price equates to approximately $818 per square foot.

This property is centrally located just steps from the 14th, 18th, and 23rd Street subway stations and within walking distance of both Union Square and the Meatpacking District. 

“The size and location of this property made it attractive to a wide array of investors and potential end-users.   After multiple rounds of bidding, we were thrilled to achieve $1 million over asking price, and we hear our client is thrilled too!” said Massey Knakal’s Guthrie Garvin, who exclusively represented the seller in this transaction with Brock Emmetsberger.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

10/29/2013 - 13:59

Source

Cushman & Wakefield Capital Markets Group New York

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