Commercial Real Estate & Advisory

Sinvin Hammers Out Auctioneer’s Deal

June 30, 2004

Chelsea Terminal Warehouse Building has welcomed at new tenant., the Manhattan-based company that provides real time Internet bidding capability to more than 130 auction houses, has signed a lease for 3,700 s/f of office space on the second floor of the building, 261 11th Avenue.

The announcement was made by Bruce Sinder, President of Sinvin Realty, and Roxanne Betesh, Vice President of Sinvin Realty, which is the exclusive leasing agent for the retail space in the building’s ground floor.

The tech company will move in during July and has committed to five years at the building, where asking rents for office space hover around $24 per square foot. The tenant’s new corner offices provide expansive views of the Hudson and the riverfront park.
Live Auctioneer’s works with the world’s most exclusive auction houses, including Sotheby’s, Weschler’s and Doyle New York.
Most of the Chelsea Terminal Warehouse Building is occupied by mini-storage units. The only other office tenants in the building are advertising firm the Ad Store on the third floor directly above Live Auctioneers, and the building’s owner, Waterfront NY, on the seventh floor.

Christopher Townley, an independent broker, represented the tenant.

On the ground floor of the Chelsea Terminal Building, Sinvin is helping the owner create a new retail destination, with high-end tenants appropriate for Chelsea’s sophisticated marketplace.