Gulf Coast Commercial Group Acquires Mixed-Use Property At 162 11th Avenue For $4M

A mixed-use property located at 162 11th Avenue in Chelsea, Manhattan was sold for $4,000,000. The property encompasses 7,408 square feet of built space and includes 6,515 square feet of air rights, with a price per square foot of $540 and a price per buildable square foot of $287.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $4,000,000
• Buyer: Gulf Coast Commercial Group
• Seller: Jeff T. Blau - Related Companies
• Building Square Feet: 7,408
• Price per Square Foot: $540
• Buildable Square Feet: 13,919
• Price per Buildable Square Foot: $287
• Market: Chelsea, Manhattan
• Date of Sale: April 27, 2026

The transaction was facilitated through affiliate entities of Gulf Coast Commercial Group, marking a significant acquisition of a property expected to generate cash flow. Jeff T. Blau of Related Companies represented the seller in this deal.