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

$342,857,143

$146/SF

Building Size

2,340,000 SF

Asset Type

Special Purpose

Closing

Dec 18, 2023

AI

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.

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