Related Companies sells Lantern House condo for $12M

G.C.H. Highline LLC paid $12 million to Related Companies through the entity 18th Highline Associates, L.L.C. for condo (SC) units 1001 and 1002 at 515 West 18th Street in Chelsea, Manhattan and condo (CK) at 515 West 18th Street in Chelsea, Manhattan.
The deal closed on August 13, 2021 and was recorded on September 2, 2021.

The signatory for Related Companies was Adam Braunschweiger.

This is for units 1001 and 1002 at the Lantern House.

Within a 400-foot radius of 515 West 18th Street, PincusCo identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, one was in new building development. It was a new building permit application filed on December 6, 2019 for a 70,505-square-foot B building at 118 10th Avenue.
Of those six items, three were sales above $5 million totaling $34.5 million. The most recent of the three was Klovern and GDSNY which bought the 3,630-square-foot, one-unit mixed-use building (K2) on 116 10th Avenue and two other properties for $17.7 million from Neil Wainland on October 5, 2020.
Of those six items, two were loans above $5 million totaling $33.6 million. The most recent of the two was Edison Properties which borrowed $26.0 million from Prudential Insurance Company of America secured by one condo unit in the 189,000-square-foot, two-unit industrial (RI) on 99 10th Avenue on September 8, 2020.

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