Masri family of Falcon Properties pays $12.8M to Carlos Silberman of Falcon Properties to increase stake in office property in Hudson Yards

The Masri family of Falcon Properties paid Carlos Silberman of Falcon Properties $12.8 million for an increased stake in 325 West 38th Street in Hudson Yards. The deal closed on October 11, 2019, and was recorded on October 24, 2019. The transaction consists of 1 parcel, including the tax class loft with more than eight stories (mid-Manhattan type with or without stores) (L1). The property is 110,188 square feet. The parcel(s) have total development potential of 110,188 square feet.

The Masri family purchased an additional 39 percent stake in this building from Silberman.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $169,100.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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