Bogod of Broadway Realty and Kritsberg of Kritsberg Property Group complete 15,000 s/f sale
Elliot Bogod, Broadway RealtyManhattan, NY Broadway Realty completed the sale of a two-story garage building located at 607-611 West 47th St. The building was purchased by a national storage company. Elliot Bogod of Broadway Realty represented the seller and Rod Kritsberg of Kritsberg Property Group Inc. represented the buyer.
The sales price was not disclosed.
“This first offering in more than 25 years generated a lot of interest from local property owners as well as international investors.The property was sold for more then target price,” said Bogod. “Its not often that buildings of this size and in M2-4 zoning become available. The seller is now searching for a property to complete their 1031 exchange.”
The building is currently 15,000 s/f with the potential for up to 38,000 s/f of developable area. The property will be delivered vacant and holds tremendous potential for an owner-occupant in need of parking and distribution space.
Views from the roof include Midtown to the east and the Hudson River and the Intrepid, as well as the home of the Space Shuttle, to the West.
Neighboring buildings include Hudson Terrace bar, View Hotel, Kimpton Ink Hotel, Audi Dealership, Honda and Toyota.