NEW YORK CITY—Marcus & Millichap Real Estate Investment Services has arranged the sale of 140-144 West 28th Street, a 7,500-sq.- ft. parcel currently being used as a parking lot. The sales price was $20.5 million.

Barbara Dansker and Shlomo Manne, both in Marcus & Millichap’s Manhattan office, represented the buyer, a Manhattan-based investor. Dansker and Shlomo also represented the seller, West 28th St. Partners LLC.

The property is located in the Chelsea area of Manhattan between Sixth and Seventh Avenues. The 76.67-ft.-by -98.75-ft. lot has a maximum FAR of 10 and the property’s current zoning is M1-6. Development options for the parcel include commercial and hotel.