JLL inks sale of commercial co-op at 127 West 24th Street
Fifth-floor commercial co-op at 127 West 24th Street offers prime office space with a loft feel
NEW YORK, March 27, 2020 — JLL Capital Markets sold a full-floor commercial cooperative at 127 West 24th Street in New York’s Chelsea neighborhood for the Ull Family. Apollo Electric acquired the 5,650-rentable-square-foot space, comprising the entire fifth floor of the building, for $3.625 million.
The seven-story 127 West 24th Street was constructed in 1904 and is home to mixture of professional tenants. The fifth-floor commercial cooperative overlooks West 24th Street and has exposure on three sides, with excellent light and air. The space was recently renovated and features updated bathrooms and a split-zoned HVAC unit. The 5,650 rentable-square-foot unit offers oversized windows, nine-foot ceilings and an open loft environment.
The JLL team used Listing3D, a real estate property technology tool that offers premium 3D tours and multiple viewing options, to show the property. The sale was secured with the assistance of the virtual tool.
Located in the heart of New York’s Chelsea neighborhood, the office co-op is located in one of Manhattan’s most in demand office submarkets. The property is steps from the 1 subway line, and is within walking distance to the R, W, 2 subways and the PATH train. The neighborhood is home to some of New York’s best dining, nightlife and shopping destinations, as well as Madison Square Park, one of the city’s premier green spaces.
The JLL professionals overseeing the sale of 127 West 24th Street include Managing Director Brock Emmetsberger and Associates Ryan Kossoy and Reed Waggoner.
“We were excited to partner with Listing3D to show and sell this property using state-of-the-art technology,” Emmetsberger said. “This space is an excellent investment for both investors and commercial tenants looking to customize their own space, and we were able to communicate that with Listing3D’s platform. It’s more important than ever to have virtual touring capabilities.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.