Seiya Tokuyama pays $7.5M to Metro Management for rental in Chelsea

Seiya Tokuyama paid $7.5 million to Metro Management Development through the entity Rota Holding Corp. for the 44-unit rental (C5) at 335 West 19th Street in Chelsea, Manhattan.
The deal closed on August 23, 2021 and was recorded on September 16, 2021.
The property has 14,540 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $515 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 signatory for Metro Management Development was David Baron. The signatory for Seiya Tokuyama was Seiya Tokuyama.

The former owners according to the Department of Housing Preservation and Development included Joe Doren, head officer and Brian Falkenstein, site manager. The business entity was Rota Holding Corp #2.

Within a 400-foot radius of 335 West 19th Street, PincusCo identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, two were for major renovation including a certificate of occupancy change. They were one permit with a total initial cost of $712,000 and one initial temporary certificate of occupancy issuance for a project that initially costed $4.6 million. The most recent of these two items was the temporary certificate of occupancy on February 24, 2021 for a 5,579-square-foot R-3 building with one residential units at 334 West 20th Street.
Of those five items, two were sales above $5 million totaling $15.8 million. The most recent of the two was Jenjo 2021 Trust which bought the 2,737-square-foot, eight-unit rental (C1) on 345 West 19th Street for $7.5 million from 347 W19 LLC on May 10, 2021.
One of those five items was a loan which Warren Hammerschlag borrowed $8 million from First Republic Bank secured by the N/A-square-foot, one-unit townhouse (A4) on 318 West 20th Street on July 20, 2020.

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