Centennial Properties NY Acquires Mixed-Use Asset In Chelsea Manhattan For $3,400,000
176 7th Avenue
$3,400,000
$870/SF
Building Size
3,906 SF
Asset Type
Mixed-use
Closing
Aug 12, 2026
About this deal
AI
A mixed-use property located at 176 7th Avenue in Chelsea, Manhattan has been sold. The sale price for the asset was $3,400,000, encompassing a total square footage of 3,906 and a price per square foot of $870.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,400,000
- Address: 176 7th Avenue
- Market: Chelsea, Manhattan
- Square Footage: 3,906
- Price per Square Foot: $870
- Buyer: Centennial Properties NY
- Seller: Michelle Galasso
- Broker Representatives: Michael Gembecki, Bobby Carrozzo, Kieran Baker, and Dylan Walsh - Cushman & Wakefield
The transaction involved key representatives from Cushman & Wakefield, identifying Michael Gembecki, Bobby Carrozzo, Kieran Baker, and Dylan Walsh as the brokers in this deal. They played a crucial role in facilitating the transaction between Centennial Properties NY and Michelle Galasso.
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
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93