So Young Shin Acquires Hotel Property In Chelsea For $7.3M

A hotel located at 297 7 Avenue in Chelsea has been sold in a recent transaction. The property, with a total area of 4,800 square feet, was sold for a price of $7,300,000. The buyer, So Young Shin, acquired the property from the seller, Salvatore Gaudio. The hotel is situated on a lot with dimensions of 20 ft x 80 ft, totaling 1,600 square feet. The transaction was completed on October 27, 2021. The property's previous sale took place on March 13, 2008, at a price of $5,100,000. An alteration permit was issued for the property on November 26, 2008.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $7,300,000
• Property Size: 4,800 square feet
• Price per Square Foot: $1,520
• Lot Size: 1,600 square feet
• Last Sale Price: $5,100,000 (March 13, 2008)
• Permits: Alteration 2 (November 26, 2008)

In this transaction, So Young Shin represented themselves as the buyer, while Salvatore Gaudio represented themselves as the seller.