Yu Kyoung Yang pays $7M to Bernard Gleich and Leonard Gleich for property in Chelsea

Yu Kyoung Yang through the entity Clara 222 West 16, LLC paid Bernard Gleich and Leonard Gleich’s B&P Realty And Management LLC $7.2 million for 222 West 16th Street in Chelsea. The deal closed on May 1, 2020, and was recorded on May 20, 2020. The transaction consists of 1 parcel, including the tax class multifamily, old law tenements (C4) and containing 14 residential units. The property is 6,649 square feet. The parcel(s) have total development potential of 10,314 square feet.
The sale price per unit is $514,286.

The contract date is February 12, 2020.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $50,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link