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Acquisitions

Mark Sonnino sells 555 West 25th Street

Mactaggart Family & Partners is the seller

555 West 25th Street (Credit: Google Maps)

Mactaggart Family & Partners has acquired 555 West 25th Street in West Chelsea from Mark Sonnino $43.3 million, according to TRD. The commercial loft building spans 51,301 rentable square feet, and is occupied by an art gallery and office tenants. It’s located between Tenth and Eleventh Avenues steps away from the High Line.

Sound Smart: The property traded at an existing 4.1% percent cap rate, according to marketing materials. All current leases are set to expire by 2021. 

Flashback: The seller paid $27 million for the asset in 2014.

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