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Brokerage
Posted: February 4, 2008
Hidrock Realty and Assurant Inc. purchase 35 West 36th St. for $28m
Hidrock Realty and Assurant Inc. have purchased a 12-story commercial building at 35 West 36th St., between Fifth and Sixth Aves., from Douglaston Equities LLC for $28 million.
The 78,000 s/f building is the second joint purchase on the block for Hidrock and Assurant, who bought 53 West 36th Street in 2007. Hidrock also owns 65 West 36th St.
"There are many businesses looking for quality space in an up-and-coming area at a reasonable rent, and we are acquiring properties to fill that niche," said Abraham Hidary, president of Hidrock.
Hidrock Realty, which will serve as the building manager, plans to renovate and expand the building's lobby, refurbish the bathrooms and install a new boiler, central air conditioning and new elevators, which will open directly into tenant spaces.
Hidrock will provide custom build-outs for full-floor leases or subdivides and full commission to tenant brokers.
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