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Brokerage
Posted: September 15, 2008
Padula of Itzhaki Props. completes $5.415m sale
Itzhaki Properties has completed the sale of 424 West 57th St. This marks the most recent transaction by Donna Padula of Itzhaki Properties. Padula represented the seller, the Lee Family of California, and the buyer, M57 LLC. Selling for $5.415 million, this 5-story elevator building contains 20 apartment units. The building is located on a residential stretch of 57th St. but lies contiguous with a hotel.
This block of West 57th St. has roots in performance and pop culture music as many well known artists began their careers here. The building itself has great upside, and is located near Central Park and Columbus Circle. It was sold in excellent condition, with the duplex delivered to the buyer as vacant. The building has 9,310 s/f, with an additional 5,798 s/f of available air rights.
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