HUBB NYC Acquires Mixed-Use Property In West Chelsea For $46.5 Million With Newmark’s Representation

The property asset involved in this transaction is a mixed-use development located at 120 West 23rd Street & 237-239 9th Avenue in the West Chelsea market. The asset comprises 6 commercial units and 78 residential units, totaling 84 units. The sale price for the property reached $46,500,000, resulting in a price per unit of approximately $553,571. The total square footage of the asset is 58,274, which translates to a price per square foot of $798.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $46,500,000
• Units: 84
• Price per Unit: $553,571
• Square Footage: 58,274
• Price per Square Foot: $798
• Buyer: HUBB NYC
• Seller's Representative: Adam Doneger, Eric Roth, Daniel (Dan) O'Brien & Tyler Signora - Newmark

The key individuals involved in the deal include the buyer HUBB NYC and the seller's representatives from Newmark, comprising Adam Doneger, Eric Roth, Daniel (Dan) O'Brien, and Tyler Signora. These representatives played a crucial role in facilitating the transaction between the buyer and the seller.