The Real Deal New York

Chelsea rental building trades for close to $80M

Melohn Properties owned the residential tower since 1982
By Katherine Clarke | March 13, 2014 06:00PM

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.