Joey Chilelli Of Vanbarton Group And Edmond M. Safra Acquire Manhattan Office For $103M

The property asset involved in the transaction is an office building located at 1011 1st Avenue in Manhattan. The sale price for the property was $103,000,000. The new owners plan to convert the asset into a 26-story residential tower, including 420 units, under New York's 485x tax incentive.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $103,000,000
• Buyer: Joey Chilelli - Vanbarton Group
• Buyer: Edmond M. Safra - AVRS Partners
• Previous Owner: Catholic Church’s former Manhattan HQ

Joey Chilelli represents Vanbarton Group and Edmond M. Safra represents AVRS Partners in this transaction. The acquisition of the property was made in partnership with Adnane Mousannif, which further highlights the collaborative effort behind the deal.