Related Cos. pays $234m for Manhattan development sites

Related Cos. has paid $234 million for six development sites in the Chelsea area of Manhattan, and it plans to build a 22-story mixed-use building on the sites.

The properties were formerly owned by U-Haul’s parent company Amerco.

The sites are located at 170 11th Ave., two plots facing 23rd Street, and another plot on the other end closer to 22nd Street. The site takes up the Western portion of the block bound by 22nd and 23rd streets and 10th and 11th avenues, according to Curbed New York.