The property was marketed inDecember and was expected to fetch $30.8 million, as GlobeSt.compreviously reported. Eastern Consolidated's vice chairman BrianEzratty with vice president of financial services Scott Ellard bothrepresented the seller and Ezratty procured the buyer.
Ezratty tells GlobeSt.com that one of the attractions to thebuyer was the location, which is in a vibrant area. "We had 20offers and probably 10 over $26 million and five over 28 million,"he says. There was "lots of interest in it."
Ezratty says that "the new owners plan to upgrade thiswell-positioned property located between Fifth and Sixth avenues,and continue to operate it as an office building. It possesses6,500-sf floor plates and 12.5-foot ceiling heights, ideal fortenants desiring a Penn Plaza address."
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