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

Property Image
SOLD
$13,500,000
Bobby Carrozzo
Andrew Berry
+ 1

New York

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Mixed-use103,108 SF
Sold 03/21/2025
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Property Image
SOLD

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

See Similar Deals
Mixed-use103,108 SF
Sold 03/21/2025
Bobby Carrozzo
Andrew Berry
+ 1
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$130
Total Square Footage:103,108 SF
Transaction Type:Sale

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
33 deals$437.7M volume(212) 660-7743
BROKER

Andrew Berry
Cushman & Wakefield
33 deals$410.9M volume
BROKER

Bobby Carrozzo
Cushman & Wakefield
35 deals$432.1M volume
BROKER

Evan Lush
Cushman & Wakefield
9 deals$126.1M volume(212) 318-9769
BROKER

Details

SOLD
IMAGE: Andrew Berry, Michael Gembecki, Bobby Carrozzo & Evan Lush DATE: 03/21/2025 ADDRESS: 170 7th Avenue, 172 7th Avenue, 174 7th Avenue & 205 West 20th Street MARKET: Chelsea, Manhattan ASSET TYPE: Mixed-use SELLER: Dulchin Family SELLER'S REP: Andrew Berry (@ATBerry3), Michael Gembecki, Bobby Carrozzo (@Bobby_Carrozzo) & Evan Lush (@Evan_Lush) - Cushman & Wakefield (@CushWake) SALE PRICE: $13,500,000 SF: 25,777 ~ PPSF: $523

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$720,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$47,962.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,996.89
Annual Debt Service$767,962.65