Marc Siebert Acquires Multifamily Property In Chelsea, Manhattan For $4.1M

Located at 255 West 18th Street in the vibrant neighborhood of Chelsea, Manhattan, this multifamily property has been sold in a recent transaction. The property sits on a lot size of 1,579 square feet, with dimensions of 26.83 feet by 67 feet. The property is zoned as C6-2A, allowing for various commercial and residential uses.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,100,000
• Market: Chelsea, Manhattan
• Gross Buildable Area: 9,506 square feet
• Price per Buildable Square Foot: $431
• Site Area: 3,616 square feet
• Price per Square Foot: $1,133
• Floor Area Ratio (FAR): 2.29
• Tax Class: 2A

The buyer in this transaction is Marc Siebert, while the seller is Robert Pusilo. With a transaction price of $4,100,000, this deal represents an opportunity for the buyer to acquire a multifamily property in the heart of Chelsea. The property offers a total gross buildable area of 9,506 square feet, with a price per buildable square foot of $431. The site area spans 3,616 square feet, with a price per square foot of $1,133. The property's floor area ratio (FAR) is 2.29, indicating the potential for future development or expansion within the existing zoning regulations. The tax class for the property is 2A.