Cris Burnam Acquires Warehouse In Chelsea, Manhattan For $132.1M

The property asset involved in the transaction is located at 524 West 23rd Street, Chelsea, Manhattan. It encompasses warehouses with a total square footage of 141,934 and a property price of $132,100,000. The asset sits on a 14,318 square foot lot with dimensions of 145 ft by 98.75 ft. The building has a zoning classification of C6-3A, WCH, and features a Floor Area Ratio (FAR) of 9.91, with a tax class of 4. The previous sale of the property was recorded at $30,500,000 on September 20, 2007.

Summary of transaction details:

• Property Type: Warehouses
• Transaction Amount: $132,100,000
• Buyer: Cris Burnam
• Seller: Jon Dario
• Building Size (SF): 141,934
• Price per Square Foot (PPSF): $931
• Building Size (BSF): 107,671
• Price per Building Square Foot (PPBSF): $1,227
• Lot Size: 14,318
• Last Sale Price: $30,500,000 (on 9/20/2007)
• Lot Dimension: 145 ft x 98.75 ft
• FAR: 9.91
• Tax Class: 4

The transaction was represented by Cris Burnam, who is the buyer. Jon Dario represented the seller in this deal. The deal reflects a significant increase in value since the last sale in 2007, highlighting notable market dynamics in the area as of December 16, 2021.