KANO Real Estate Ground Leases Development Site At 132 & 134 West 23rd Street In Chelsea

The ground lease of 132 & 134 West 23rd Street in Chelsea has been completed. The landlord, Grendel Company, has leased the development site to Noam Shemel of KANO Real Estate. The transaction was facilitated by Zachary Ziskin, Adam Lobel, Justin Zeitchik, and Eli Zempsky of Investment Property Realty Group (IPRG). The site spans 40,000 square feet and has an asking rent of $15 per square foot. The property will be developed into a luxury rental property in the future.

Summary of transaction details

• Property Type: Development Site
• Tenant: Noam Shemel - KANO Real Estate
• Landlord: Grendel Company
• Broker: Zachary Ziskin, Adam Lobel, Justin Zeitchik, and Eli Zempsky - Investment Property Realty Group (IPRG)
• Address: 132 & 134 West 23rd Street
• Market: Chelsea
• Asking Rent: $15/ft.
• Size: 40,000 sq. ft.

Note from Broker: For more details on this transaction or if you're interested in buying, selling, or leasing a similar property, reach out to our Manhattan Team at Investment Property Realty Group (IPRG).