Chabad Young Professionals Acquires Specialty Building & Development Parcel In Chelsea, Manhattan For $5M

Chabad Young Professionals has acquired a specialty building located at 247 West 24th Street and a development parcel on West 25th Street in Chelsea, Manhattan. The transaction took place for a sales price of $5 million. The property has a square footage of 3,820, resulting in a price per square foot of $1,309. The building has a buildable square footage (BSF) of 11,552, with a price per buildable square foot (PPBSF) of $433. The seller in this deal was KP Developers, represented by Ryan Pedram.

Summary of transaction details

• Property Type: Specialty & Development Site
• Transaction Amount: $5,000,000
• Square Footage: 3,820
• Price per Square Foot: $1,309
• Buildable Square Footage (BSF): 11,552
• Price per Buildable Square Foot (PPBSF): $433
• Buyer: Chabad Young Professionals - Levi Shmotkin
• Seller: KP Developers - Ryan Pedram

The acquisition of the specialty building and development parcel was made by Chabad Young Professionals, with Levi Shmotkin representing the buyer. This transaction represents a significant addition to Chabad Young Professionals' portfolio in the Chelsea, Manhattan market.