Norfolk, Va.-based real estate investment firm Harbor Group International has sold a parking garage located at 500 West 43rd Street to a private buyer for $13.6 million, the firm announced yesterday.
The garage, located between 10th and 11th Avenues, is leased to Hertz, which uses the three-level facility for car rental services. Harbor Group International had purchased the garage from Alliance Parking Services in 2011 for $10.5 million.
Harbor Group International has closed on the acquisition of 1420 Broadway and 246-248 West 125th Street for a combined $20.3 million.
The first building is located adjacent to the firm’s New York headquarters at 1412 Broadway, owned by an HGI affiliate, and the latter lies amid Harlem’s burgeoning retail sector.
The property at 1420 Broadway is a three-story, 7,200-square-foot building constructed in 1911 and located between the Times Square and 34th Street retail corridors.