NEW YORK CITY-Sze & Wong Inc., a local real estate investor, purchased a six-story elevator building at 5 E. 19th St. in the Flatiron District between Broadway and Fifth Avenue for $7.8 million. Locally based Eastern Consolidated’s Sandi Mann, associate, represented the seller Peggy Flaum, while Eastern’s Charlotte Fu, associate, procured the purchaser.

Built in 1915, the property is 100% occupied and net-leased to a variety of commercial tenants, namely a film production company, a music recording studio, a high-end hair salon and newly renovated dentist office. Ron Hollander Esq., of the Law Offices of Ronald Hollander, represented the seller, while Allen Chiu Esq. acted for the buyer.

The top floor consists of a 1,100-sf residential penthouse with two outdoor decks. “This is a fabulous pre-war boutique building, well-maintained, in a sought-after neighborhood,” says Mann.

The sale was a 1031 exchange transaction. “Not surprisingly, 5 E. 19th St. sold swiftly at a price commensurate with its value in this heady investment sales climate,” says Fu.

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