Newsletters

JV Sells Chelsea Loft Building for $48M

NEW YORK CITY-AEW Capital Management and Colliers ABR sell the 12-story commercial office building located on West 28th Street to Joss Realty Partners.

By Natalie Dolce | Updated on July 03, 2007

NEW YORK CITY-AEW Capital Management LP and Colliers ABR Inc. sell the Chelsea/Penn Plaza commercial office building located at 229-239 West 28th St., with features including high ceilings, large floor plates and abundant light and air, for $48.4 million to Joss Realty Partners LLC, a New York-City-based owner and operator of commercial properties.

Eastern Consolidated chairman and CEO, Peter Hauspurg, with Brian Ezratty, vice chairman, executive directors Eric Anton and Ronald Solarz, and Scott Ellard, director-financial services, exclusively represented the sellers. Ezratty procured the purchaser.

“This building is typical of the better commercial loft buildings in the Penn Plaza/Chelsea submarket, and its location is prime,” says Ezratty. “An added advantage, and one that drove the sale, is that by mid 2007, a big block of space totaling 80,486 sf can be made available which could help in repositioning the building as an upscale office destination.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Resource Center

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Assessment

Sponsored by Cherre

Enabling Stakeholder Confidence in Your Data: A Self-Assessment for Real Estate Organizations

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.