Two adjoining four-story mixed-use buildings, spanning 9,299 square feet, have sold for $9.5 million to a private buyer. The deal included roughly 15,000 square feet of unused development rights.
Direct Realty tapped Eastern Consolidated to market 334-336 West 46th Street, which was listed at a bankruptcy auction sale on June 4, 2013, Commercial Observer reported.
“Through a note sale auction we were able to achieve a favorable price for the seller, while also delivering an extremely valuable, well-located asset with redevelopment options to the buyer,” David Schechtman, a principal and executive managing director with Eastern Consolidated, said in a statement, who along with colleague Lipa Lieberman, a senior director, represented both the buyer and the seller in the transaction.
The building’s 10 apartments are rented through January 2015 and the commercial tenant O’Flaherty’s Ale House Irish Pub’s lease expires next month with no extension options.