HFF announced that it has closed the sale of 140 West 28th Street, an approximately 7,538-square-foot, mid-block development site in Chelsea, to an unnamed buyer.
HFF marketed the development site exclusively on behalf of the seller, Sovereign Partners, LLC. The purchase price of the site was $42.8 million.
The development site is located at 140-144 West 28th Street between 6th and 7th Avenues close to the Chelsea High Line, Chelsea Piers, Hudson River Park, Herald Square and Penn Station. The property is zoned for a maximum of 144,876 square feet of development rights.
The HFF investment sales team representing the seller was led by senior managing directors Andrew Scandalios and Jose Cruz, managing directors Jeffrey Julien and Kevin O’Hearn and director KC Patel.