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VICI Properties Acquires Ground Lease For Chelsea Piers Complex In Chelsea, Manhattan For $342.9M

Property Image
SOLD
$342,857,143

New York

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Special Purpose2,340,000 SF
Sold 12/18/2023
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Property Image
SOLD

VICI Properties Acquires Ground Lease For Chelsea Piers Complex In Chelsea, Manhattan For $342.9M

111 A 11th Avenue, 111 C 11th Avenue & 111 B 11th Avenue

See Similar Deals
Special Purpose2,340,000 SF
Sold 12/18/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Special Purpose
Price Per Square Foot:$146
Total Square Footage:2,340,000 SF
Transaction Type:Sale

VICI Properties, a real estate investment trust (REIT), has acquired a ground lease for the Chelsea Piers sport and entertainment complex in Chelsea, Manhattan, including specialty buildings at 111A, 111B, and 111C 11th Avenue, for a total of $342.9 million. The property consists of 780,000 square feet and is priced at $440 per square foot.

Summary of transaction details

  • Property Type: Special Purpose
  • Transaction Amount: $342,857,143
  • Address: 111A 11th Avenue, 111C 11th Avenue & 111B 11th Avenue
  • Market: Chelsea, Manhattan

The buyer of the property is David Kieske representing VICI Properties, while the sellers are Chelsea Piers and David A. Tewksbury. The transaction was completed on December 18, 2023. David Kieske, as the buyer's representative, facilitated the deal.

Players

David A. Tewksbury
David A. Tewksbury
3 deals$342.9M volume
BROKER
VP
VICI Properties
BUYER
VP
VICI Properties
BUYER
David A. Tewksbury
David A. Tewksbury
3 deals$342.9M volume
SELLER

Details

SOLD
IMAGE: David Kieske DATE: 12/18/2023 ADDRESS: 111A 11th Avenue, 111C 11th Avenue & 111B 11th Avenue MARKET: Chelsea, Manhattan ASSET TYPE: Special Purpose BUYER: David Kieske - VICI Properties SELLER: Chelsea Piers & David A. Tewksbury SALE PRICE: $342,857,143 SF: 780,000 ~ PPSF: $440 NOTE: VICI Properties, a real estate investment trust (REIT), has acquired a ground lease for the Chelsea Piers sport and entertainment complex in Chelsea, Manhattan, including specialty buildings at 111A, 111B, and 111C 11th Avenue, for a total of $342.9 million.

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