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Marcus & Millichap Sells Chelsea MF Property for $8M
TARGO Capital Partners has acquired a 10-unit multifamily property located at 321 W 16th St. in Chelsea for $8.1 million from Centennial Properties. The five-story building, constructed in 1905, comprises a mix of one-, two-, and three-bedroom units.
The transaction was facilitated by Marcus & Millichap’s investment specialists, including Joe Koicim, Zan Colin, and Logan Markley, who represented the seller and brought in the buyer.
“This asset was highly sought after given its ideal location, protected tax class, and immaculate renovations,” said Koicim. “West 16th Street’s profile, coupled with our marketing process, achieved a sales price per square foot of $1,580, the highest price per square foot for a Chelsea multifamily property in the last 24 months.”
- ◦Sale/Acquisition
