Joel Picket’s The Gotham Organization Acquires Mixed-Use Property In Manhattan For $78M

The mixed-use property located at 460 West 41st Street in Manhattan has been sold for a price of $78,000,000. The property, spanning 164,000 square feet, was sold at a rate of $475 per square foot. The transaction involved the seller, Covenant House, and the buyer, Joel Picket's The Gotham Organization.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $78,000,000
• Address: 460 West 41st Street, New York
• Market: Manhattan

Joel Picket's The Gotham Organization represented the buyer in the deal. The transaction is currently in the contract stage. It is reported that Gotham will eventually develop a "ground-up, mixed-use, mixed-income residential building." However, prior to that, Gotham will construct a new "purpose-built" facility.