Toll Brothers City Living Acquires Development Site From William C. Nanis For $45M

The transaction involves a development site located at 126 10th Avenue in Chelsea, Manhattan. The sale price was $45,000,000, with a building square footage of 54,613 and a price per building square foot of $823. The property also encompasses a total square footage of 8,783, priced at $5,123 per square foot.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $45,000,000
• Buyer: Toll Brothers City Living
• Seller: William C. Nanis, Esq.
• Brokers: Michael Hunter Coghill, Brittany Feinberg & Chad Sinsheimer - Adirondack Capital Partners
• Built Square Feet: 54,613
• Price per Built Square Feet: $823
• Square Feet: 8,783
• Price per Square Feet: $5,123

Adirondack Capital Partners arranged the sale, facilitating the acquisition that completes a broader development assemblage including additional properties. The total consideration for the two ACP-brokered transactions, which includes 118 Tenth Avenue, amounts to $98 million, covering approximately 135,968 buildable square feet.