Shlomit Levy pays $7.7M to Assa Properties for two properties in Hell’s Kitchen
Shlomit Levy through the entity Ref 46 Street LLC paid $7.7 million to Assa Properties through the entity West 46th Street Investors LLC for six-unit retail building (K9) at 334 West 46th Street in Hell’s Kitchen, Manhattan and six-unit rental (C2) at 336 West 46th Street in Hell’s Kitchen, Manhattan.
The deal closed on November 3, 2021 and was recorded on November 12, 2021.
The two properties have 9,299 square feet of built space and 26,994 square feet of additional air rights for a total buildable of 36,300 square feet according to PincusCo analysis of city data. The sale price per built square foot is $832 and the price per buildable square foot is $213 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 signatory for Assa Properties was Salim Assa. The signatory for Shlomit Levy was Shlomit Levy.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
The former owners according to the Department of Housing Preservation and Development included Salim Assa, head officer and Sol Chakalo, site manager. The business entities were Bds Realty Management, Llc and West 46th Street Investors, Llc.
Within a 400-foot radius of 334 West 46th Street, PincusCo identified 10 commercial real estate items of interests occurred over the past 24 months.
Of those 10 items, two were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $860,000. The most recent of these two items was the filing on November 30, 2020 for a 2,493-square-foot B building with five residential units at 361 West 46th Street.
One of those 10 items was a sale which Florence Chia bought the 3,756-square-foot, six-unit mixed-use building (S5) on 328 West 45th Street for $5.6 million from Penn South Capital on June 3, 2020.
Of those 10 items, seven were loans above $5 million totaling $81.2 million. The most recent of the seven was Schwartz family which borrowed $10.5 million from First Republic Bank secured by the 20,600-square-foot, 27-unit rental (D3) on WEST 45th Street on September 3, 2021.
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