ABR Partners And Alchemy Properties Acquire Mixed-Use Property On West 57th Street For $130M

The mixed-use property located at 123-141 West 57th Street in Midtown has been sold for $130,000,000. The sale was completed on 06/21/2021. The property spans a total of 191,185 square feet and has a building square footage (BSF) of 260,000. The asset comprises a combination of residential and commercial spaces, making it a versatile investment opportunity.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $130,000,000
• Date: 06/21/2021
• Address: 123-141 West 57th Street
• Market: Midtown
• Building Square Footage (BSF): 260,000
• Total Square Footage (SF): 191,185

The buyers of the property are ABR Partners and Alchemy Properties. On the other hand, the Calvary Baptist Church acted as the seller in this transaction. The sale was facilitated by representatives from both parties, including Eric Poretsky, Blake Goodman, Jonathan Goldstein, Kenneth Horn, and Joel Breitkopf. The sale was a significant deal in the real estate market of Midtown.

It is worth mentioning that in March 2021, permits were filed for full demolition of the property. However, upon completion of construction, the Calvary Baptist Church will continue to own and occupy the space at the base of the property.