Seiya Tokuyama Acquires Multifamily Property In Chelsea For $7.5M

The property involved in this closed transaction is located at 335 West 19th Street in the Chelsea market. It is a multifamily asset consisting of a 50-foot wide, 4-story walk-up apartment building with a total area of 14,540 square feet. The property contains 45 residential units, with all but one configured as studios.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,500,000
• Address: 335 West 19th Street
• Market: Chelsea

The buyer in this transaction is Seiya Tokuyama, while the seller is Metro Management Development. The brokers involved in the deal include Rob Shapiro, Andrew Berry, Michael Gembecki, Charlie Gravina, Austin Fabel, and Nicholas Kontos from Cushman & Wakefield.

During the marketing process, the Cushman & Wakefield team implemented a dynamic strategy to maximize value. The property was simultaneously offered as part of the Metro Portfolio and on a carefully curated basis. This approach attracted significant interest, with over 550 signed confidentiality agreements, 100 property inspections, and more than 70 offers received. The successful execution of this strategy led to optimal results for both parties involved in the transaction.

It's worth noting that the Metro Portfolio, which includes 13 residential and mixed-use properties across three core Manhattan neighborhoods, had a combined asking price of $74,250,000. This transaction represents the third closed deal within the portfolio.