Real Estate Weekly
Image default
Deals & Dealmakers

Nautica founder sells 256 West 15th St. in Chelsea for $14.1M

Taiwanese fashion designer David Chu, who is best known as the founder of apparel company Nautica, has just sold a six-story property in Chelsea for $14.1 million.

The transaction, which was announced by investment firm Okada & Co., marks the third time that the building has changed hands since 2013. Chu acquired the building in December 2014 for $13 million, according to property records. The previous owner was Sarin & Associates, LLC. The building contains 22 apartment units and 2,046 s/f of retail space at the ground floor.

This is not Chu’s first time offloading a New York City property at a profit. In 2004, he bought the townhouse at 22 East 22nd Street for $9.3 million. Nine years later, with a listing price of $29.99 million, the property entered into contract, according to a previous report from the Observer.

Christopher Okada and David Ho represented the seller in the transaction. DTE’s Daniel Tamir, represented the buyer, 256 Chelsea LLC.

(Visited 1 times, 1 visits today)

Related posts

Hospitality-Infused Repositioning at 545 Madison Drives Occupancy to 100 Percent with 76,500 SF of New and Extended Leases

REW

Brookfield Properties, Park Tower Group Announce Launch of Leasing at Luxury Brooklyn Waterfront Residential Towers Eagle + West

REW

Newmark Arranges Sale of Net-Leased Medical Office
Building in Los Angeles’ Eagle Rock Neighborhood for
$18.25 Million

REW