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Chelsea Parking Lot Becomes Prime Development Site

NEW YORK CITY-Marcus & Millichap arranged the sale of 140-144 W. 28th St., a 75,000-square-foot parcel that could be the home of a new hotel or retail space, sources say. It traded for $20.5 million.

By Jacqueline Hlavenka | Updated on February 21, 2012

NEW YORK CITY-A parking lot near Chelsea’s gallery district could become a future hotel, sources tell GlobeSt.com. Marcus & Millichap Real Estate Investment Services arranged the sale of 140-144 W. 28th St., a 75,000-rentable square foot parcel for $20.5 million, a site that could become the next big mixed-use property on the block.

Barbara Dansker and Shlomo Manne, both in Marcus & Millichap’s Manhattan office, represented the buyer, a Manhattan-based investor, and also the seller, West 28th St. Partners LLC. Property records indicate that the buyer is Upper East Side-based Sovereign Partners LLC.

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