Gabriel Saffayeh Robert Saffayeh And Elie Fouerti Acquire Corlears School Building For $19M

The asset involved in the transaction is located at 322 West 15th Street & 324 West 15th Street in the Chelsea market of Manhattan. This school building has a total square footage of 19,777 and was sold for $19,000,000, resulting in a price per square foot of $961.

Summary of transaction details:

• Property Type: School
• Transaction Amount: $19,000,000
• Address: 322 West 15th Street & 324 West 15th Street
• Market: Chelsea, Manhattan
• Square Footage: 19,777
• Price per Square Foot: $961
• Buyer: Gabriel Saffayeh & Robert Saffayeh - Saffayeh Group; Elie Fouerti - Fouerti Realty

The transaction was led by a partnership composed of Gabriel Saffayeh, Robert Saffayeh, and Elie Fouerti, who secured approval to acquire the Corlears School building in Chelsea. The agreement was structured as an as-is deal with no financing contingencies and allows for flexible post-closing occupancy through 2026.