Elisheva Realty pays $2.6M for 12-foot-wide building in Midtown

Elisheva Realty through the entity Ketoret 57 LLC paid $2.6 million to the estate of Behrooz R. Farhadian through the entity 1049 Rf LLC for the three-unit mixed-use building (S9) at 19 West 46th Street in Midtown, Manhattan. The building is 12 feet wide and on a lot that is 12 feet and four inches wide.
The deal closed on September 15, 2021 and was recorded on October 4, 2021. This is one of the skinniest buildings in Manhattan. There are 33 buildings in Manhattan 12 feet wide or thinner, according to data from the city’s Department of City Planning.
The property has 4,030 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $657 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on November 15, 2007, for $2.2 million.
The signatory for estate of Behrooz R. Farhadian was Sofia Farhadian Sohayegh. The signatory for Elisheva Realty was Sean Sedaghatpour.

The property was owned by Extell Development and likely had its air rights stripped. Sean Sedaghatpour is principal with Elisheva Realty.
The former owners according to the Department of Housing Preservation and Development included Robert Farhadian, head officer and Manuel Teutle, site manager. The business entity was 1049 Rf Llc.

Within a 400-foot radius of 19 West 46th Street, PincusCo identified 19 commercial real estate items of interests occurred over the past 24 months.
Of those 19 items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on October 29, 2019 for the $726,300 renovation of 12,105-square-foot M building with 0 residential units at 37 West 46th Street.
Of those 19 items, 10 were sales above $5 million totaling $2.3 billion. The most recent of the 10 was SJD, LLC which bought the 57,352-square-foot, one-unit office building (O6) on 576 5th Avenue for $101 million from Severn Realty Partners on July 13, 2021.
Of those 19 items, eight were loans above $5 million totaling $683.8 million. The most recent of the eight was Premier Realty which borrowed $29.9 million from Safra National Bank secured by the 97,785-square-foot, 92-unit office building (O6) on 36 West 47th Street on August 12, 2021.

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