Jack Elo pays $110M to Ray Yadidi, Isaac Chetrit for property in Diamond District

Jack Elo through the entity Simco Realty LLC paid Ray Yadidi and Isaac Chetrit’s Yadidi 47 TIC LLC $110 million for 15 West 47th Street in Diamond District. The deal closed on December 10, 2020 and was recorded on December 17, 2020. The transaction consists of 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6). The property is 120,790 square feet.
The average sale price per square foot is $911.

Ray Yadidi leads the Sioni Group. The deal was reported to have faltered in the summer. The contract date was February 14, 2020. The last time the property sold was August 30, 2012 for $62,500,000.
Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $744,500.

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