Michael Kirchmann And Alan Rudikoff Acquire Development Site In Chelsea For $22.6M

118 10th Ave, located in Chelsea, is a development site that has been recently sold. The property was purchased for a total of $22,600,000. With a buildable square footage (BSF) of 100,000, the price per buildable square footage (PPBSF) was estimated to be $226.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $22,600,000
• BSF: 100,000
• PPBSF: $226

The sale was facilitated by Eastdil brokers Evan Layne and Brett Siegel. The seller of the property was Real Estate Equities Corporation. On the buyer's side, Michael Kirchmann and Alan Rudikoff, representing GDSNY and Klovern of Sweden respectively, acquired the development site.