Stephen Davis Of Davis Companies Acquires Office And Mixed Use Properties In Chelsea For $77.2M

The transaction involves a collection of properties located at 345 7th Avenue, 341 7th Avenue, and 167 West 29th Street in the Chelsea market of Manhattan. The assets, categorized as office and mixed-use, were sold for $77,200,000. The total square footage for the properties is 209,816, making the price per square foot $368.

Summary of transaction details:

• Property Type: Office & Mixed use
• Transaction Amount: $77,200,000
• Buyer: Stephen Davis - Davis Companies
• Seller: Katan Realty Group & Mike Kohan - Kohan Retail Investment Group
• Square Footage: 209,816
• Price per Square Foot: $368

This deal was executed as part of a UCC foreclosure sale, resulting in Kohan Retail Investment Group, Katan Realty Group, and Ilya Mikhailov losing control of the four properties in Manhattan, including the notable office building at 345 Seventh Avenue.