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Sabet Group Acquires Two Chelsea Walk-up Buildings For $15M

Property Image
SOLD
$15,000,000
AS
SJ

New York

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MultiFamily31,705 SF
Sold 06/26/2023
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Property Image
SOLD

Sabet Group Acquires Two Chelsea Walk-up Buildings For $15M

224 8th Avenue & 228 8th Avenue

See Similar Deals
MultiFamily31,705 SF
Sold 06/26/2023
AS
SJ
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$473
Total Square Footage:31,705 SF
Transaction Type:Sale

The Sabet Group, led by Alfred Sabetfard, has acquired two residential walk-up buildings in Chelsea, Manhattan. The properties, located at 224 8th Avenue and 228 8th Avenue, were purchased for a total of $15 million. Combined, the buildings offer 44 units and have a total square footage of 31,705. The price per unit for this transaction stands at $340,909, while the price per square foot is $473.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $15,000,000
  • Buyer: Sabet Group - Alfred Sabetfard
  • Seller: Sonia Jaye
  • Units: 44
  • Price per Unit: $340,909
  • Square Footage: 31,705
  • Price per Square Foot: $473

This acquisition highlights the active investment strategy of the Sabet Group in the Multifamily sector. With their extensive experience and expertise in the real estate industry, Alfred Sabetfard and his team continue to identify and capitalize on opportunities that align with their investment goals.

Players

AS
Alfred Sabetfard
5 deals$70.2M volume
BUYER
SJ
Sonia Jaye
3 deals$39.8M volume
SELLER

Details

SOLD
IMAGE: 06/26/2023 ADDRESS: 224 8th Avenue & 228 8th Avenue MARKET: Chelsea, Manhattan ASSET TYPE: Multifamily BUYER: Sabet Group - Alfred Sabetfard SELLER: Sonia Jaye SALE PRICE: $15,000,000 UNITS: 44 ~ PPU: $340,909 SF: 31,705 ~ PPSF: $473 NOTE: Sabet Group has acquired two residential walk-up buildings in Chelsea, Manhattan, located at 224 8th Avenue and 228 8th Avenue, for a total of $15 million. The properties have a combined built space of 31,705 square feet.

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