Argentic Management Sells Development Site On 7th Avenue In Chelsea For $22M

The historic and original Barney's building located at 115 7th Avenue in Chelsea, Manhattan has been sold in a recent transaction. The development site was sold by Argentic Management for a total sale price of $22,000,000. The property spans 55,000 square feet of buildable space, resulting in a price per buildable square foot of $400.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $22,000,000
• Address: 115 7th Avenue, Chelsea, Manhattan

The buyer's representatives in this deal were Josh Goldflam and Charles Chang from Highcap Group. On the seller's side, the property was represented by Abie Kassin and David Schechtman from Meridian Capital Group. The successful completion of this transaction within just 60 days is a testament to the excellent teamwork displayed by Team Schechtman and Highcap Group.

Please note that the Barney's building in Chelsea was previously sold in 2014 for $57 million but was later taken back by the lender. The recent resale at the lower price of $22 million demonstrates the prime location of the property at a corner in Chelsea.