The Real Deal New York

Nautica founder lands Chelsea building for $13M

Local seller bought the property for $10.8M in 2013
By Claire Moses | January 09, 2015 11:45AM

David Chu, the founder of popular sports apparel brand Nautica, bought a six-story Chelsea property for $13 million, The Real Deal has learned.

The seller of the 13,056-square-foot building at 256 West 15th Street, who is a private local investor, bought the property about a year and a half ago for $10.75 million. The property — which includes 22 apartments and two retail locations — is located between Seventh and Eighth avenues, close to Google’s headquarters.

Okada & Company’s Christopher Okada and David Ho represented the seller. Okada represented Chu in the transaction.

Chu bought the property as an investment, Okada said. The building has recently been renovated. A laundromat and a salon are located in the two retail spaces.

In July, Chu sold a six-story property in the Flatiron District for $27 million.