New York & Tri-State + Downtown New York + Retail | December 2, 2020

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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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