The Real Deal New York

Chelsea office condo to become continuing education school

May 06, 2011 02:22PM

A 29,700-square-foot office condominium at 137-139 West 25th Street in Chelsea sold last week for $10 million, according to Crain’s. The buyer, 137 West 25th Street LLC, paid an average of $2 million per floor, or $337 per square foot, to an undisclosed publicly traded Fortune 500 company represented by Robert Burton and Brock Emmetsberger of Massey Knakal Realty.

The buyer intends to lease the property, between Sixth and Seventh avenues to Micropower USA/ Micropower Career Institute, a school for continuing education that already has seven other locations in the city. Development has already begun on the property to include classrooms and science laboratories, Crain’s said.

The building, constructed in 1910, was originally a public library. [Crain’s]

Comments are closed.