Search

Donovan LLP Represents Seller of Chelsea Property for $20M

Updated: Sep 24, 2018


Originally Posted in the Commercial Observer

Written by Rebecca Baird-Remba

…Joseph Francolino Sr. unloaded 459 West 19th Street between Ninth and 10th Avenues for $20 million, according to public records filed with the city today. The single-story commercial building was home to Francolino’s trash pickup business, Duffy Carting and Recycling Company, from 1974 until 2000, according to state records. However, the building’s most recent occupant was a gallery called Postmasters, which recently relocated to Tribeca.


It’s unclear who bought the property from Francolino. The entity listed on the deed is an LLC registered in Delaware, and the authorized signatory is Sharon Gray. The real estate attorney who handled the sale declined to comment. Francolino did not return a request for comment.


The squat, gray building is only 3,800 square feet, but zoning would allow a 22,800-square-foot residential building to be constructed there. At one point, Cushman & Wakefield was marketing the property for an undisclosed asking price. The listing touted the site’s proximity to the High Line, which is just west of 10th Avenue, and noted that it would be an ideal place for a luxury condo project. The brokers on the listing, Billy Simons and Brock Emmetsberger, did not return requests for comment….

Bryan McCrossen and Michael Parachini of Donovan LLP represented the Seller in connection with this transaction.

© 2019 Donovan LLP