ANBAU Acquires Development Site In Chelsea For $18.5M

The property involved in this closed transaction is a development site located at 428-432 West 19th Street in Chelsea. The sale price for this asset was $18,500,000, and it spans a total of 41,492 square feet. The price per buildable square foot (PPBSF) is $445.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $18,500,000
• Square Footage: 41,492

The seller of the property was Ernest Schoenherr, while the buyers were Stephen Glascock and Parke Leatherman, represented by ANBAU. The deal was facilitated by brokers Andrew Natter and Harold Fuchs from the Collaborative Group.