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170 7th Avenue

Dulchin Family Sells Mixed-Use Properties In Chelsea Manhattan For $13.5 Million
SOLDMixed-use

Dulchin Family Sells Mixed-Use Properties In Chelsea Manhattan For $13.5 Million

170 7th Avenue, 172 7th Avenue, 174 7th Avenue & 205 West 20th Street

$13,500,000

$130/SF

Building Size

103,108 SF

Asset Type

Mixed-use

Closing

Mar 21, 2025

AI

This transaction involves a mixed-use property located at 170 7th Avenue, 172 7th Avenue, 174 7th Avenue, and 205 West 20th Street in Chelsea, Manhattan. The asset was sold for a price of $13,500,000. The total square footage of the properties is 25,777, resulting in a price per square foot of $523.

Summary of transaction details:

The transaction was facilitated by the representatives from Cushman & Wakefield, who played a crucial role in the sale process. The involvement of Andrew Berry, Michael Gembecki, Bobby Carrozzo, and Evan Lush underscores the expertise present in managing the sale of this significant asset.

Players

Michael Gembecki

Cushman & Wakefield

Broker

$449.8M

vol

35 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93