The Real Deal New York

Chelsea rental building trades for close to $80M

Melohn Properties owned the residential tower since 1982

March 13, 2014 06:00PM
By Katherine Clarke

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Aaron Jungreis and 200 West 15th Street

Aaron Jungreis and 200 West 15th Street

Melohn Properties’ Alfons Melohn sold a Chelsea rental building for $79.5 million, The Real Deal has learned.

The residential property, at 200 West 15th Street, on the corner of Seventh Avenue, has been owned by Melohn’s family since 1982, public records show. It was not clear what the family paid for it decades ago.

The sale was brokered by Aaron Jungreis of Rosewood Realty. The buyer, who bought the property as part of a 1031 tax exchange, is a longtime New York investor, he said. Sources identified the investor as Alan Wasserman.

The 19-story, 109,668-square-foot property has 110 residential units and 2,868 square feet of retail space, according to PropertyShark. It’s fully leased to residential tenants, listings website StreetEasy shows.

Melohn could not be reached for comment.

  • itsme

    Jungreis vs Knakal. Nice match!

    • RE Maven

      Its not really a match. Jungreis destroys him with much fewer resources.

      • money talks

        Heard Jungreis easily makes 12 mill to 13 mill a year.

        • wozaer

          more like 15-20 .. especially this and last year

          • money talks

            He is also a great investor. He doesn’t have to envy the Eastdil guys. He made it.

          • ye

            atleast

  • Jack Sparrow

    Wealthy people want privacy, not an email blast to a 1500 pool of buyers.

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