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Equity Residential Sells 800 Sixth Ave. for $240M

Greystar acquired the 266-unit residential building in Chelsea, as Sam Zell’s company continues to exit from West Side apartment rentals.

The Archstone Chelsea at 800 Sixth Ave. The Archstone Chelsea at 800 Sixth Ave.

NEW YORK CITY—Equity Residential, the Chicago-based real estate investment firm founded by Sam Zell, sold its residential rental property called the Archstone Chelsea at 800 Sixth Ave. to Greystar for $240 million. The sale was first reported in The New York Post. The 36-story, 266-unit residential rental building is located between W. 27th and W. 28th streets.

Greystar is the largest operator of apartments in the US. Its website states as of Sept. 30, 2018, it was in 180 markets globally, with 50-plus offices, managing more than 491,000 units including student apartments.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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