Built in 1915, the property is 100% occupied and net-leased to avariety of commercial tenants, namely a film production company, amusic recording studio, a high-end hair salon and newly renovateddentist office. Ron Hollander Esq., of the Law Offices of RonaldHollander, represented the seller, while Allen Chiu Esq. acted forthe buyer.
The top floor consists of a 1,100-sf residential penthouse withtwo 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, 5E. 19th St. sold swiftly at a price commensurate with its value inthis heady investment sales climate," says Fu.
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