THREE-BUILDING CHELSEA PROPERTY TO SELL FOR $93 MILLION

NEW YORK CITY — A private equity group has agreed to buy 511 W. 25th St. in Chelsea, a 195,000-square-foot property, for $93 million from Pembrook Capital Management. The three-building, mixed-use property includes an art gallery and office complex. The sale is expected to close in the first quarter of 2012. Darcy Stacom of CBRE represented Pembrook in the transaction.