Ray Yadidi And Payman Yadidi Of Sioni Group Acquire Office Building In Chelsea For $21.34M

The property asset involved is an office building located at 363 7th Avenue in Chelsea, Manhattan. The property was sold for a total of $21,340,000, encompassing a total square footage of 83,642 and a price per square foot of $255.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $21,340,000
• Address: 363 7th Avenue
• Market: Chelsea, Manhattan
• Seller: Fred Ohebshalom - Empire Management
• Buyer: Payman Yadidi & Ray Yadidi - Sioni Group
• Brokers: Faraz Cheema, Robert Knakal, Ryan Candel & Jas Saini - BK Real Estate Advisors
• SF: 83,642
• PPSF: $255

Ray Yadidi’s Sioni Group has acquired the office building from Empire Management, marking a significant decline from its previous purchase price of $35.7 million in 2014.