Chelsea building goes for $48M

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A joint venture of Colliers ABR Investors and AEW Capital Management sold a 156,000-square-foot office building at 229 West 28th Street to Joss Realty Partners for $48 million. Colliers and AEW purchased the 12-story Class B property in November 2005 for $35 million. Last month, Colliers and AEW, which entered into a joint partnership to acquire Class B office properties around the city in late 2005, announced that they were selling 119 West 40th Street and 120 West 41st Street for $180 million. TRD