New York, NYSize
BlueGate Partners, LLC has been exclusively retained by Ownership to arrange for the sale of The Chelsea, a 204-unit luxury multifamily property that contains ground-floor retail space with frontage on 23rd Street, 24th Street and 7th Avenue in the borough of Manhattan. The property is comprised of two buildings; a 19 story, 204 unit luxury apartment building rising 19 stories above the southeastern corner of Seventh Avenue and 24th Street as well as a three story commercial building containing a total of 2,130 square feet with frontage on 23rd Street. Located in the center of Manhattan’s desirable Chelsea neighborhood, the property sits directly above the 23rd Street and 7th Avenue subway station serving the number 1 line, and is also only one Avenue away from stops on the C, E, F, and M lines, in addition to PATH service to New Jersey. The Chelsea contains studio through two-bedroom apartments equipped with high-end finishes and numerous amenities including a 24-hour fitness center, underground parking and a 24-hour concierge/door attendant. Four retail tenants occupy the ground floor of the property, including a Starbucks and a FedEx Office Print & Ship Center.