The development site located at 616 11th Avenue in Hell's Kitchen, Manhattan, was recently sold for $33,200,000. Spanning 120,000 square feet, the property was acquired at a price of $277 per square foot. The transaction involved Cheskel Schwimmer of Chess Builders purchasing the property from Extell Development, Princeton Real Estate Partners, and Bluestone Group. The sale was facilitated by brokers Helen Hwang, Brian Szczapa, Yasmin Kheradpey, and Justin Axelrod of Meridian Capital Group.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $33,200,000
• Buyer: Cheskel Schwimmer - Chess Builders
• Seller: Extell Development, Princeton Real Estate Partners, Bluestone Group
• Brokers: Helen Hwang, Brian Szczapa, Yasmin Kheradpey, Justin Axelrod - Meridian Capital Group
• Address: 616 11th Avenue
• Market: Hell's Kitchen, Manhattan
• Square Footage: 120,000
• Price per Square Foot: $277

The collaboration between Cheskel Schwimmer as the buyer and the selling entities Extell Development, Princeton Real Estate Partners, and Bluestone Group marked a significant transaction in the real estate market of Hell's Kitchen. The involvement of brokers Helen Hwang, Brian Szczapa, Yasmin Kheradpey, and Justin Axelrod from Meridian Capital Group further facilitated the successful closure of the deal, highlighting the importance of experienced professionals in the realm of property transactions.