Elo Organization Buys Class B Office at 21 West 46th Street for $43M
By Mark Hallum January 29, 2025 4:26 pm
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Jack Elo is placing his bets on a Class B office building in Midtown.
The Elo Organization went into contract to buy 21 West 46th Street from Arline Hannon-Weinmann back in November, and the sale hit property records Wednesday showing a sale price of $43 million.
Elo could not be reached for comment, but he told The Real Deal when negotiations were wrapping up that he planned to keep the fully leased 15-story building as an office, bucking the trend of converting aging office buildings to residential.
The building is near 15 West 47th Street in the Diamond District, a property that Elo bought from Eli and Isaac Chetrit for $110 million in December 2020.
21 West 46th Street, between Fifth Avenue and Avenue of the Americas, dates from 1929 and includes 31 residential units. Office tenants include coworking firm WorkHouse and the headquarters for travel agency Volatour.
Hannon-Weinmann, who also owns 159 West 25th Street, could not be reached for comment.
The acquisition follows the November sale of Elo’s 110,000-square-foot development site at 172 Third Avenue in Gowanus, Brooklyn, to Jacob Katz’s Goose Property Management for $22 million.
Mark Hallum Can be reached at mhallum@commercialobserver.com.
