February 5, 2017
A single-story art gallery building sold for almost $10.8 million in Chelsea to an undisclosed buyer.
“By first leasing the space to a prestigious gallery, we were able to unlock the true value of the property,” said Brad Cohen, director at Eastern Consolidated, which represented the seller and procured the buyer. Last year, Eastern Consolidated leased the building to Marianne Boesky Gallery.
The new 7,200-square-foot property opened less than four years ago at 507 West 24th St. in a unique space under the High Line, a once-disused elevated railroad that has been renovated to become one of the City’s newest, most popular parks.
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