Marcus & Millichap announced the sale of The Chelsea Collection, a 13-property multifamily portfolio comprising 147 units in New York City’s Chelsea neighborhood. The portfolio traded for $94.5 million.
This transaction represents one of the most notable multifamily sales in Chelsea for the year, underscoring the ongoing demand for such properties in New York City. The portfolio's unique combination of location, quality, and future upside made it an attractive asset for investors.
The deal was facilitated by Marcus & Millichap's NYM Group, which exclusively represented the seller and procured the out-of-town buyer. This closing further strengthens the firm's position in a challenging New York City market, demonstrating its ability to attract outside capital and execute complex portfolio transactions.
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