Another Piece of the Sapir Empire Sold Off
By Laura Kusisto February 22, 2011 4:57 pmreprints
The Sapir Organization has sold one of its last remaining Manhattan properties for $11.5 million.
The taxi driver turned billionaire bought the glassy, eight-story building at Fifth Avenue and 35th Street in 1992, according to public records (the purchase price is not available). The company’s portfolio is now down to seven properties, according to its Web site.
The retail and office building is wedged between classy limestone neighbors and in prime retail territory The retail space currently houses a David Z. shoes, whose lease expries in 2016.
The buyer is Family Forever, according to public records, an LLC registered to Mandarin Plaza, at 376 Broadway. That Chinatown tower was purchased just a few months ago by Brazilian investor Pereira Eduardo Luciano, who could not be located for comment.
The property was being marketed by Massey Knakal, but broker John Ciraulo did not return a call for comment.