2/13/2008

Joint venture acquires three New York City office buildings for $97.5M

by

Chelsea Commercial Complex

A joint venture between Halcyon Real Estate Investors and El Segundo, Calif.-based Cardinal Real Estate Investments has purchased the Chelsea Commercial Complex in New York City for a total of $97.5 million from 511 W. 25th Street Corp.

Brokers from Grubb & Ellis represented both the Halcyon/Cardinal venture and the seller in the transaction.

The Chelsea Complex contains three buildings at 511-519, 521-539 and 541 West 25th Street and have a combined size of over 172,500 square feet. Financing was arranged by Carlton Advisory Services.

Address: 511-519, 521-539 & 541 W. 25th St., New York, N.Y.

Size: 172,500 square feet

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Filed Under: Office

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