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

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]