UWS Building The Chatsworth Sells For $150M

Who has not stopped in front of The Chatsworth and admired its charming exteriors and unique beauty? This is one factor which influenced its selling price in the market, adding to the fact that it is a landmark property. The Chatsworth has been sold for a whopping $150 million to the HFZ Capital Group and its partner BSG Real Estate. The price per square foot is $33.38 and would have gone way higher if roughly 50% of the apartments were not rent stabilized. Another obstacle for a higher price might have been the proven strong will and determination of its tenants. It is said that they once sued Donald Trump over potential blocked views.

Ziel Feldman, founder of HFZ, told the WSJ, that he hopes to restore the building to its “original glory”. All free market apartments already had a renovation during the last 14 years and the lobby had a major restoration in 2010.

The Chatsworth has 139 apartments on 12 floors and has approximately 200,000 square feet. The average unit size is 1,173 square feet.

HFZ has a large portfolio in Manhattan. It includes condominium like One Madison Park or Setai Wall Streets and rentals buildings like 225 West 86th street.