In the world of mid-market New York City investment sales last week, HH Realty Equities bought a Flatiron District commercial building, and Sam Chang made an assemblage play in Chelsea.
1.) Ariel Akkad’s HH Realty Equities bought a six-story commercial building in the Flatiron District for $15.5 million. The seller, Sealand Realty Corp., has owned the 16,720-square-foot building at 17 West 20th Street since 1970. The site is next door to Gale International’s 15-story condominium building at 21 West 20th Street, and used to house Spoon Catering and its restaurant, Tablespoon.
2.) Sam Chang’s McSam Hotel Group bought a three-story commercial building from Extell Development, just one building down from another McSam-Extell exchange. The hotelier paid $15.5 million for the 10,087-square-foot building at 154 West 24th Street in Chelsea for $15 million, on top of the $61 million price tag for 140-146 West 24th Street, where he plans to build a 45-story hotel tower. He closed on both sites earlier this month.