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Eighth Ave MXU Sells to Partnership After 14-Year Hold
A Cushman & Wakefield team of Brock Emmetsberger, Billy Simons and Rachel Aschendorf has arranged the sale of 151 Eighth Ave., a five-story mixed-use building in Manhattan’s Chelsea neighborhood. A partnership of Stone Street Properties LLC and Greenwich Village Capital LLC paid $18.35 million for the property. The seller, who was not disclosed, bought it for $7.15 million in 2004.
“With tech firms’ ever-expanding presence in Chelsea, the neighborhood, and 151 Eighth in particular, are positioned to see an increased demand for residences and services,” said Emmetsberger. “We expect property values in the surrounding area to remain strong.”
The 15,260-square-foot, mixed-use apartment building contains 16 residential units, two retail units and one cell tower. Of the 16 apartments, 11 are free-market, four are rent-stabilized and one is rent-controlled.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
