RESTAURANT ROW MIXED-USE BUILDINGS SELL FOR $9.5M IN NYC

NEW YORK CITY — Direct Realty has sold 334-336 West 46th Street, along Manhattan’s Restaurant Row. An undisclosed buyer acquired the property for $9.5 million. The property consists of two four-story, mixed-use buildings, including 10 free-market residential units and ground-level commercial space. Additionally, the parcel offers approximately 15,000 square feet of unused development rights. A master lease through January 2015 currently encumbers the residential units, and the lease of the commercial tenant, O’Flaherty’s Ale House Irish Pub, expires in February 2014 with no extension options. David Schechtman and Lipa Lieberman of Eastern Consolidated represented both parties in the transaction.