Cherney buys West Village rental for $30M

Deal for 38-unit property part of 1031 exchange

455 Hudson Street
455 Hudson Street in the West Village (inset, clockwise from top left: Jordan Vogel, Aaron Feldman, Peter Von Der Ahe and Joe Koicim)

The Cherney family acquired a mixed-use rental building at 455 Hudson Street in the West Village this week for $30 million, The Real Deal has learned.

Cherney Real Estate paid over $1,350 per square foot for the 22,000-square-foot building, which houses 38 rental units and two retail spaces. Cherney bought the property from Benchmark Real Estate Group, which acquired the building for $20 million in 2013.

The deal was part of a 1031 exchange, according to sources with knowledge of the transaction. Cherney recently sold a rental building, at 40 East End Avenue in Yorkville, to the Lightstone Group for $32.5 million, and the LLC used to acquire 455 Hudson Street previously owned 40 East End Avenue, according to city property records.

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Benchmark extensively renovated the building, upgrading the common areas and performing gut renovations on many of the units, according to Peter Von Der Ahe of Marucs & Millichap, who handled the sale along with colleague Joe Koicim.

The building’s retail units are presently occupied by a café – Alexandra, at 455 Hudson Street — and a liquor store, Von Der Ahe added.

Neither Cherney nor Benchmark could be reached for comment.

Benchmark, founded by Aaron Feldman and Jordan Vogel in 2009, recently sold a 101-unit rental building in Kips Bay for $68.3 million, as TRD reported.