Fairstead Acquires Multifamily Property In Chelsea, Manhattan For $10.8M

The multifamily property located at 725 6th Ave. in Chelsea, Manhattan was recently sold for a total price of $10,800,000. The property consists of 7 units, with an average price per unit of $1,542,857. The total square footage of the property is 6,272, with an average price per square foot of $1,721.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $10,800,000
• Units: 7
• Price Per Unit: $1,542,857
• Square Footage: 6,272
• Price Per Square Foot: $1,721
• Address: 725 6th Ave., Chelsea, Manhattan

Fairstead acquired the property from Simon Abeckaser. The deal was facilitated by the brokers Joe Koicim, Logan Markley, Zan Colin from Marcus & Millichap, and Lenny Sporn from Sporn Group LLC.