David Greene with Murray Hill Properties represented the buyer but declined to reveal the company's name, offering instead the buying entities.

252 W. 37th St. was purchased by Sheva 7 LLC. The 18-story, 148,766-sf building houses mostly garment tenants, and was built in 1924. It was sold jointly with 256 W. 38th St. for $56 million. 256 W. 38th St. purchased by Chanukka 26 LLC, was also built in 1924 and totals 104,350 sf on 14 stories. Ken Zakin and Randall Liberman of Newmark Knight Frank represented the unnamed seller.

In a separate transaction, the Steinberg family sold 39 W. 38th St and 43 West 38th St. for $14.9 million. 39 W. 38th St. was purchased by Magen 26 LLC. The 12-story office building totals 50,117 sf, and was built in 1915. Also constructed in 1915, the five-story, 43 W. 38th St. property is 20,769 sf, including the building's air rights. It was purchased by Halascha 26 LLC. Newmark's David Noonan represented the Steinberg family.

Greene tells GlobeSt.com that the buyer is very familiar with the Lower Midtown area and "believe that the market will continue to increase in value dramatically over the next several years," seeing an extension of the robust Midtown market due to the "expected transformation of the Post Office, the extension of the [No.] 7 train, the additional footage at the Javits Center which will bring tens of thousands of additional visitors to the area, new or upgraded commercial, residential, additional hotels as well as the eventual transformation of the rail yards at some point in the near future."

The owner plans to renovate the building to better provide for the upcoming demand.