Raizada Vaid pays $10.4M to consolidate ownership of 12-unit building in Times Square

Investor Raizada S. Vaid paid $10.4 million for 250 West 47th Street to three entities that owned it in a tenant-in-common structure, through three separate transactions. The sale went into contract in May 2017, the transfer documents say, less than two months after the tenant-in-common owners bought it for $9.8 million.

The transactions consolidate control of the parcel, which is the tax class multifamily, more than six families with stores (C7) and containing 12 residential units. The property is 9,175 square feet. The parcel has total development potential of 25,088 square feet.

In the first transfer, Vaid through the entity TS 47 Hotel LLC paid Salvatore Guadio’s MG 250 LLC $5.5 million for a stake in 250 West 47th Street in Times Square. The deal closed on April 30, 2020, and was recorded on May 5, 2020.

In the second transaction, Vaid through the entity TS 47 Hotel LLC paid Tarek Alam’s Tasa Realty LLC $3.1 million for a stake in 250 West 47th Street in Times Square.

In the third transaction, Vaid through the entity TS 47 Hotel LLC paid Thomas Bifulco’s 151 Gt LLC $1.8 million for a stake in 250 West 47th Street in Times Square.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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