Luxury multifamily property sells in Manhattan

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The Berkshire Capital Group has purchased The Chelsea, an 18-story luxury apartment building at 160 West 24th Street in Manhattan, N.Y. The value of the transaction was $93 million. The London-based investor bought the building from the Maidman real estate family's Townhouse Management and Pine Equity, which had acquired the property three years ago for $63 million. In addition to its residences, the Chelsea also contains a 50-car garage and six stores along Seventh Avenue. Real estate service companies Colliers ABR Inc. and Spalding & Slye Colliers represented the seller, Chelsea LLC. Boston-based Spaulding & Slye Colliers is an integrated real estate services company. *** What's your opinion? Send your Letter to the Editor to