A commercial loft building located at 29 W. 36th St. has traded for $29 million to Broadway 36th Realty LLC, local investors in the textile industry.
Eastern Consolidated's vice chairman Brian Ezratty with VP, financial services Scott Ellard both represented the seller, Clemons Management Corp. and Ezratty procured the buyer.Capital improvements at the 12-story, 82,000 s/f property, which included the replacement of the boiler and burner last year, also include new elevator systems and a new card key access system. Ellard said, "As the availability of office space continues to shrink and supply tightens, demand for office space in the city's best locations will not wane. Midtown South is no exception and it is especially an attractive alternative for tenants who cannot afford the Plaza District's steep rental rates."
Attorneys in the deal were: Jonathan Adelsberg Esq. and Dena Cohen Esq. at Herrick Feinstein represented the sellers and Michael Melinger Esq. represented the purchaser. Tags: