Yosef Nazar pays $9.7M to Peter Ting for property in Garment District

Yosef Nazar through the entity 269 West 39 Street Realty LLC paid Peter Ting’s Gnit Corp. $9.7 million for 269 West 39th Street in Garment District. The deal closed on October 17, 2019, and was recorded on October 23, 2019. The transaction consists of 1 parcel, including the tax class loft with retail stores (L8). The property is 27,029 square feet. The parcel(s) have total development potential of 27,029 square feet.
The average sale price per square foot is $491.
The estimated cap rate is 5.3%
The last time the property sold was August 10, 2006, for $4,250,000.

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