Chelsea Retail Condo Sells for $8.7 M.


RKF has arranged the $8.7 million sale of a 3,513-square-foot retail condominium at the base of 127 Seventh Avenue in Chelsea, the firm announced today.

SEE ALSO: Calmwater Lends $33M on GDS’ Nearly Completed Chelsea Condo Building

The retail condominium, which consists of 2,063 square feet on the ground floor and 1,450 square feet on a lower level, is leased to CORE Group.

“The Chelsea market continues to fuel strong demand from both buyers and sellers of retail condos, as this most recent transaction demonstrates,” said RKF President Jeffrey Fishman, who represented both sides of the deal with Jonathan Butwin, Robert Goldman and Andrew Jacobs, in a statement.

A spokesperson for RKF did not confirm the buyer and seller in time for publication, but the firm arranged for Lloyd Goldman’s BLDG Acquisition reported purchase of the retail condo for $6.6 million last year.

The condominium sits at the base of the Magnum Real Estate Group’s Yves Chelsea condominium, a 14-story residential building with 41 apartment units and an exterior clad in blue glass. The property was one of several buildings reportedly entwined in a Russian money-laundering scheme under federal investigation.