A completely renovated townhouse at 211 West 22nd St., located between Seventh and Eighth Aves. in Chelsea, was sold in an all cash transaction valued at $3.85 million.
The five-story property is 3,400 s/f and sits on a 17.17' x 49' lot. The property currently contains three residential units which are configured as an owner-occupied triplex apartment and two floor-through units on the third and fourth floors. The triplex renovations include, marble bathrooms, stainless steel appliances, central air, laundry room, custom woodwork, and surround sound. The two floor-through apartments also include marble bathrooms, and A/C units. The triplex benefits from an outdoor garden while the fourth floor unit features a private roof deck. The property was purchased for a single-family conversion. The sale price equates to $1,132 per s/f.
"Two townhouses have sold in the last few weeks which were the first two townhouse sales since April 2011. It is nice to see that townhouse activity in Chelsea is picking up" said Massey Knakal director of sales Brock Emmetsberger who exclusively handled this transaction with partner James Nelson.
"As in this sale, we've seen a trend where almost all 2-4 families sales are converted back to single family, as they are the highest and best use in this market," said Nelson.
Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,000 transactions having a market value in excess of $14 billion. Tags: