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:
- Property Type: Mixed-use
- Transaction Amount: $13,500,000
- Square Footage: 25,777
- Price per Square Foot: $523
- Address: 170 7th Avenue, 172 7th Avenue, 174 7th Avenue & 205 West 20th Street
- Market: Chelsea, Manhattan
- Seller: Dulchin Family
- Seller's Representative: Andrew Berry, Michael Gembecki, Bobby Carrozzo & Evan Lush - Cushman & Wakefield
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
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