JOINT VENTURE ACQUIRES MANHATTAN PARKING LOT FOR $20.8M

NEW YORK CITY — A joint venture between The Albanese Organization and The Buccini/Polin Group of Washington, D.C., has purchased a parking lot at 312-318 W. 37th St. in Manhattan from the Wenner and Larkin families for $20.8 million. The joint venture is expected to construct a 300-room hotel on the site, which is in Manhattan’s Garment District. Eastern Consolidated’s David Schechtman represented the families and procured the buyers.