Chelsea condo unit sells for $15.7M, or $3,666 per foot

The entity 12aw21 LLC paid $15.7 million to Robert S. Wiesenthal for the residential condominium at 551 West 21st Street in Chelsea, Manhattan.
The deal closed on February 1, 2022 and was recorded on February 22, 2022.
The property has 4,271 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $3,666 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 October 5, 2016, for $15.1 million.
The signatory for Robert S. Wiesenthal was Robert S. Wiesenthal. The signatory for 12aw21 LLC was Sandor Krauss.

(121327331)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 44 residential units on May 6, 2016. (121327331) Plans for a 44-unit, 163,269 square-foot R-2 were filed on January 8, 2013 and were permitted on February 7, 2014.
This is unit 12A.
On the tax block, the majority, or 38 percent of the 412,517 square feet of built space are industrial buildings, with retail buildings next occupying 20 percent of the space.
There was a condominium project filed with the address 551 West 21st Street and the name 551 West 21st Street Condominium on June 26, 2013. The principals of the sponsor, 551 West 21st Street Owner Llc, were Scott Resnick, Dan Lustig, Max Eisenstein, and Jacqueline Dechongkit. link

Within a 400-foot radius of 551 West 21st Street, PincusCo identified 11 commercial real estate items of interests occurred over the past 24 months.
Of those 11 items, one was for major renovation including a certificate of occupancy change. It was a permit issued on May 28, 2021 for the $3.9 million renovation of 28,819-square-foot E building with N/A residential units at 556 West 22nd Street.
Of those 11 items, six were sales above $5 million totaling $1.8 billion. The most recent of the six was David Cancel which bought one condo unit in the 3,860-square-foot, 45-unit mixed-use building (RM) on 144 11th Avenue for $14.3 million from Gilbert Cohen, Shelby on January 20, 2022.
Of those 11 items, four were loans above $5 million totaling $1.9 billion. The most recent of the four was StorageMart which borrowed $1.7 billion from Barclays secured by the 257,400-square-foot, two-unit industrial (E7) on 510 West 21st Street and 16 other properties on January 6, 2022.

Direct link to Acris document. link