RKF Completes $6.6 Million Sale of Retail Condominium at the Yves in Chelsea
NEW YORK, NY – RKF recently completed the $6.6 million sale of the 3,496-square-foot retail condominium at 127 Seventh Ave., located in the Yves, a 14-story residential building located on the southeast corner of 18th Street in Chelsea. The retail condominium, which is fully leased to CORE Group Marketing, consists of 2,064 square feet on the ground floor and 1,432 square feet on the lower level.
RKF Executive Vice President Jeff Fishman, Senior Director Brian Segall and Analyst Jonathan Butwin represented both the buyer, BLDG Acquisition Corp., and the seller, Yves Retail, LLC.
“127 Seventh Avenue is a prime corner retail condominium located adjacent to the entrance to the subway,” said Fishman. “Chelsea has proven to be a very strong market for retail investment sales, as this is the fourth retail condominium to trade in a two-block vicinity in 10 months.”
The retail condominium is at the base of the 14-story, 41-unit Isaac & Stern-designed residential condominium featuring a blue-glass-clad exterior. The building is one of the newest construction projects to be completed in Chelsea. This strong residential area is well-served by restaurants, banks, and home furnishings and service retailers.
The country’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With approximately $20 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles, Miami, Northern New Jersey, and San Francisco.