Chelsea Retail Condo Fetches $11M
Avison Young’s Tristate Investment Sales group finalized the sale of 300 W. 23rd St., a 12,110-square-foot retail condominium at the base of a 21-story “condop” building in Chelsea. The property sold for $11,000,000.
An Avison Young team of Brandon Polakoff, Brent Glodowski, James Nelson, Angela Mulder and Jeremy Stenberg negotiated the sale on behalf of ownership.
“This was a rare opportunity to acquire a prime Chelsea corner retail asset with extensive frontage and foot traffic, as well as a diverse tenant base, all at a highly attractive price point,” said Polakoff.
The property, which last sold in 1993, is divided into five units leased on a long-term basis to numerous recognized brands including Starbucks, the Vitamin Shoppe, Asuka Sushi, and QQ Nails & Spa, all currently open for business. The property also includes one smaller 1,050 square-foot vacant space.
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