Toll Brothers, through its Toll Brothers City Living condominium division, has bought a West Chelsea development site for $45 million. The acquisition covers 126-128 10th Avenue and the adjoining property at 456 West 18th Street in Manhattan.
The properties were sold by the Nanis family, their longtime owner. Broker Adirondack was involved in the transaction, according to Commercial Observer.
The purchase positions the US homebuilder in a high-value part of West Chelsea, an area shaped by gallery development, the High Line and continuing residential construction. Toll Brothers City Living focuses on condominium projects in major urban markets.
No details on the scale, design, timetable or unit mix of a potential development were disclosed in the reported transaction. The deal nonetheless signals continuing developer interest in well-located Manhattan sites where new housing supply faces significant land and construction costs.