Grubb & Ellis reps seller in $8.4 million sale of former Hudson Blue Condos; Team: Helman, Kingsley, Oelsner, Meister and Phillips

According to Grubb & Ellis Co., the company's Private Capital Markets group has completed the sale of 423 West St., formerly known as Hudson Blue Condos, to the Sabet Group. The purchase price was $8.4 million. Neil Helman, Charles Kingsley and Yoav Oelsner, executive VPs, Jason Meister, associate, and Andrew Phillips, senior advisor, facilitated the sale of the property on behalf of the seller, CapitalSource, which took the property back through foreclosure. "We received more than 30 bids, likely attributed to the outstanding opportunity to acquire a high-end condo project located in one of the most coveted and dynamic neighborhoods in Manhattan," said Helman. The Sabet Group will likely finish construction on the partially completed development and then sell individual apartment units as originally planned by the predecessor developer. Featuring floor-to-ceiling windows and views of the Hudson River, 423 West St. is a 10-story building with direct access to the waterfront and Hudson River Park and in close proximity to the Meatpacking District, High Line Park, Chelsea and an abundance of nightlife, fine dining and shopping.