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

An multifamily property located at 725 6th Ave. in Chelsea, Manhattan has been sold for a price of $10,800,000. The property consists of 7 units and spans across 6,272 square feet. The per unit price stands at $1,542,857, while the price per square foot is $1,721.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $10,800,000
• Units: 7
• Price Per Unit (PPU): $1,542,857
• Square Feet (SF): 6,272
• Price Per Square Foot (PPSF): $1,721
• Market: Chelsea, Manhattan

The buyer of the property is Fairstead, while the seller is Simon Abeckaser. The deal was facilitated by brokers Joe Koicim, Logan Markley, and Zan Colin from Marcus & Millichap, as well as Lenny Sporn from Sporn Group LLC.