Schechtman and Johnson of Eastern Consolidated broker $26.25m sale

In separate sales transactions, two contiguous West Side sites, 433-439 West 37th St. and 431 West 37th St. (a.k.a 430 West 38th St.), traded respectively for $19 million and $7.25 million to make way for construction of an 86,000 s/f residential rental building to rise within minutes of New York's Javits Center. Eastern Consolidated directors David Schechtman and David Johnson represented the private family selling 433-439 W 37th St., while executive directors Eric Anton and Ronald Solarz procured the buyer, a New Jersey-based developer with an extensive Manhattan development history. Schechtman said, "The site on West 37th and West 38th Sts. is long overdue for residential development because of its proximity to the Javits Center, Midtown Manhattan, and easy access to the Port Authority and West-side tunnels leading into New Jersey." 433-439 W. 37th St. is presently a parking lot, which will cease operations when construction begins. 431 West 37th St. is a three story vacant building and lot, which runs through to West 38th St. Eastern senior directors Ronda Rogovin and Alan Miller, with. Johnson represented the seller, a private seller, while Messrs. Anton, Solarz and Schechtman represented the buyer, 433 LLC, the same buyer for the contiguous lot at 433-439. The combined lots have approximately 125 feet of frontage on West 37th St. and a portion of the combined parcel will run block-through to West 37th St. "The Hudson Yards is a hotbed of quality residential development," said Anton, "And our clients are looking forward to the construction of a terrific end product to occupy the combined parcels." In the sale of 433, W. 37th St., Lee Ohliger, Esq. of Carter Ledyard represented the seller and Michael Federman, Esq. represented the buyer. In the sale of 430 W. 38th St, Ed David, Esq. of Ed Davis Associates, LLC represented the seller, while Michael Federman again represented the buyer.