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18 of +aRt's Remaining Units Sell to Foreign Investor

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With only 25 of its 189 units remaining on the market, West Chelsea condo building 540 West 28th Street, also known by the extremely un-search-friendly name +aRt, sold 18 of those units—all the ones that were listed by Halstead—to a foreign investment firm. GreenOak Real Estate, which has offices in New York, Los Angeles, London, Munich and Tokyo, paid a total of $17 million for the units, according to The Real Deal, which is between 80 and 90 percent of what they were listed for. GreenOak plans on renting the units for a few years, then putting them back on the market when the time is right. In the meantime, they'll be able to acquaint themselves with the artistic-ness of the neighborhood, as the "About" section of +aRt's website claims that the building was "[built] in deference to the artistic narrative of Chelsea's most important artists." Poetic.
· +Art sponsor sells 18 condos to international firm [TheRealDeal]