Chelsea Office Building Trades for $1,024/sf

Columbia Property Trust has sold the 12-story, 166,000-square-foot building located at 218 West 18th Street. Meadow Partners paid $170 million, or $1,024 per square foot for the property that last traded in 2017 for $155 million, or $933 per square foot. News of the sale comes at a time when PIMCO is preparing to close on the $4 billion purchase of Columbia and its approximately 6 million-square-foot portfolio of office buildings.