Eastern Consolidated reps buyer and procures seller in $31.5 million sale: Team included Anton, Solarz, Schechtman, Ortiz and Yawitz

A nine-story, 43,774 s/f office/retail property in Rockefeller Center located at 7-9 West 51st St., has traded for $31.5 million to a foreign buyer. An Eastern Consolidated team negotiated the transaction, representing the seller and procuring the buyer, namely: Executive managing directors Eric Anton and Ronald Solarz and senior directors David Schechtman, Esq., Roberto Ortiz, and Marcia Rose Yawitz. "We were confident this property would immediately attract a wide diversity of investor interest when it hit the market in mid June 2010, because of its fabulous location and available air rights," said Anton. He also said that the building, which fetched $700 per s/f, offers notable financial upside given that its middle seven floors are occupied by tenants at below market rental rates, on leases that are soon to expire. The building's vacant 14,400 s/f retail component, a ground floor, mezzanine and lower level space is an ideal venue in which to establish a Plaza District presence for a flagship store with a distinct caché. It also offers a vacant 3,207 s/f penthouse suitable for office tenants seeking a full floor identity in Midtown Manhattan. "The new owner will continue operating the building's office component and lease up the retail space as soon as possible," said Schechtman. Andrew Albstein Esq. of Goldberg, Weprin, Finkel and Goldsmith represented the seller, while William Kaplan Esq., of Fox Horan & Camerini LLP acted for the buyer.