Onyx Equities is under contract to purchase the leasehold of the former home of TCI College of Technology’s campus in Chelsea for approximately $60 million. Located at 320 West 31st Street, the 116,000 square foot building was leased by the school since 1997. The new owner is planning an office conversion of the vacant four story building and has not made a decision on how to use the over 115,000 square feet of development rights. Once the sale is completed the asset will have traded for just over $517 per square foot.
