Eastern Star Development Acquires Development Site In Chelsea For $27.5M

The development site located at 401 Eighth Avenue X in Chelsea, Manhattan has been sold for a total of $27,500,000. The property is situated at the intersection of 30th Street and 8th Avenue in New York. With a total buildable square footage (BSF) of 63,000 sf, the price per buildable square footage (PPBSF) comes to $437. The site falls under the zoning designation of C6-3X (R9X).

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $27,500,000
• BSF: 63,000 sf
• PPBSF: $437
• Zoning: C6-3X (R9X)

The sale was facilitated by Salt Equities, the seller of the development site. On the buyer's side, Eastern Star Development acquired the property. Christopher Okada of Okada & Company represented both parties in the deal.