General Co. Ltd Acquires Multifamily Asset On West 22nd Street For $5.86M

The property involved in the transaction is a multifamily asset located at 447 West 22nd Street, Chelsea, Manhattan. The sale price for the property was $5,860,000, with a total square footage of 4,935 and a price per square foot of $1,187. The capitalization rate for the transaction stood at 5.3%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,860,000
• Address: 447 West 22nd Street
• Market: Chelsea, Manhattan
• Square Footage: 4,935
• Price per Square Foot: $1,187
• Cap Rate: 5.3%
• Buyer: General Co. Ltd
• Seller: Harriet Brand
• Buyer's Representative: Tetsuo Otaki - Otsubo Realty
• Seller's Representatives: Mitchell Levine, Ryan McGuirl - Avison Young & Ariel Cohen - Douglas Elliman

The transaction was facilitated by Tetsuo Otaki representing the buyer, General Co. Ltd. On the seller's side, the representatives included Mitchell Levine and Ryan McGuirl from Avison Young, along with Ariel Cohen from Douglas Elliman, indicating a collaborative effort in the sales process.