171,500 s/f Manhattan property sells for $60 million: 216 East 45th St.

According to Bernstein Real Estate, 216 East 45th St. was recently sold for $60 million. Located on the borough's east side between Second and Third Aves., this 171,500 s/f, 17-story, 24-hour commercial building has 21 office units and three retail spaces. It was built in 1928 with open spaces and solid sound-proof concrete walls and ceilings. At one point in its history it had been known as the Audio Visual Graphics Building as it was home to the film and related creative industries. 216 East 45th St. is currently fully leased. Tenants include: L.I.M. College, Sony Entertainment, AT&T and Radar Magazine. The buyer of this property is 216 Watermark Holdings, LLC, an investor group led by Asher Bernstein, Vincent Terranova, Alan Schnurman and Ben Zalman. The seller was Janco Co. (Thomas Dillenberg). There was no broker involved in this transaction.