2-family in Chelsea sells for $12.5M

George L. Majoros through the entity Blue Door 23 LLC paid $12.5 million to Michael Chaney and Larissa Kirschner for the two-unit two-family building (B9) at 328 West 23rd Street in Chelsea, Manhattan.
The deal closed on November 30, 2021 and was recorded on January 5, 2022.
The property has 7,635 square feet of built space and 2,344 square feet of additional air rights for a total buildable of 9,976 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,637 and the price per buildable square foot is $1,253 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on September 22, 2010, for $4 million.
The signatory for Michael Chaney and Larissa Kirschner was Michael Chaney and Larissa Kirschner. The signatory for George L. Majoros was George L. Majoros.
(120918533)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 2 residential units on June 4, 2018.
Within a 400-foot radius of 328 West 23rd Street, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months.
Of those eight items, three were sales above $5 million totaling $26.6 million. The most recent of the three was Parke Leatherman which bought the 4,556-square-foot, five-unit rental (C2) on 359 West 22nd Street and one other property for $8.0 million from Metro Management on August 27, 2021.
Of those eight items, five were loans above $5 million totaling $52.7 million. The most recent of the five was 300 West 23 St Cooperative which borrowed $12.5 million from Investors Bank secured by one condo unit in the 151,785-square-foot, 222-unit mixed-use building (RM) on 249 8th Avenue on July 1, 2021.

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