Harbor Group International sells 500 West 43rd Street Parking Garage for $13.6 million

According to Harbor Group International, LLC (HGI), an affiliate of the company has sold the 500 West 43rd Street Parking Garage to a private buyer for $13.6 million. HGI purchased the property in September of 2011 for $10.5 million. "The property is a superb asset located in the heart of Manhattan - a market that HGI continues to focus its acquisition efforts on," said Jordan Slone, chairman & CEO of Harbor Group International, "The property performed according to our investment plan and we are pleased with the timing of our exit." The 500 West 43rd Street Parking Garage is a three level facility comprised of approximately 130 parking spaces and is located in the Midtown West corridor of Manhattan. The garage is net leased to the Hertz Corporation on a long term lease. In turn, Hertz uses the facility for one of its New York City car rental sites. The facility includes an on-site, newly renovated rental office.