125 West 16th Street Set For Renovation and Expansion

125 West 16th StreetCurrent-day 125 West 16th Street, image via Curbed

Per The Real Deal, Raphael Toledano has acquired the six-story, 39-unit rental building at 125 West 16th Street, in southeastern Chelsea, for $41.5 million. The new owner plans to add two stories and 20 units to the top of the building, and the existing structure will also be renovated. Madison Realty Capital provided $34 million for the purchase and construction costs.

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