Metro Management Development Sells Mixed-Use Property In Chelsea For $17.5M

The mixed-use property located at 191-197 Seventh Ave. in Chelsea has been sold for a total price of $17,500,000. The property spans a total area of 34,090 square feet, resulting in a price per square foot of $513. The asset is zoned as R8A and C2-5, allowing for a variety of uses.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $17,500,000
• Address: 191-197 Seventh Ave.
• Market: Chelsea
• Zoning: R8A, C2-5

The seller of the property was Metro Management Development. The deal was facilitated by Cushman & Wakefield, with the following brokers involved: Rob Shapiro, Andrew Berry, Michael Gembecki, Charlie Gravina, Austin Fabel, and Nicholas Kontos.