Savanna Acquires Office Building In Chelsea For $100M

The Klapper family, owners of Superior Sewing equipment, recently sold their office building located at 48 West 25th Street in Chelsea. The property, with a size of 126,000 square feet, was sold to Savanna at a price of $100,000,000. The office building is situated in a prime location in the vibrant Chelsea market.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $100,000,000
• Property Size: 126,000 square feet
• Price per Square Foot: $794
• Date: 10/24/2018
• Address: 48 West 25th Street, Chelsea
• Seller: Klapper family - Superior Sewing equipment
• Buyer: Savanna
• Brokers: Adam Spies, Adam Doneger, and Doug Harmon represented the owner

The sale of the office building was facilitated by the brokers from Cushwake, namely Adam Spies, Adam Doneger, and Doug Harmon, who represented the Klapper family. This transaction highlights the strong demand for office properties in the Chelsea market and demonstrates the successful collaboration between the sellers and the buyer, Savanna.