WitkoffCo And Access Industries Acquire Multifamily Property In Chelsea For $900M

An iconic multifamily property located in Chelsea has been sold for a staggering price of $900,000,000. The property, situated at 76 11th Avenue, spans across 900,000 square feet, resulting in a price per square foot of $1,000. This significant sale took place on December 23, 2021, and involved the buyer, Steve Witkoff, representing @WitkoffCo, along with Len Blavatnik from Access Industries. The seller in this transaction was Children’s Investment Fund.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $900,000,000
• Address: 76 11th Avenue
• Market: Chelsea

In facilitating this lucrative deal, the buyer's representatives were Adam Spies, Doug Harmon, Adam Doneger, and Rachel Humphrey from Cushman & Wakefield. This team of brokers from Cushman & Wakefield demonstrated their expertise and negotiation skills, playing an instrumental role in the success of this transaction.