The Real Deal New York

Hell’s Kitchen development site sells for $37M

Two-story limo garage building on 47th Street offers 95K buildable sf

December 29, 2015 01:39PM
By Kathryn Brenzel

West 47th Street

624-636 West 47th Street

The operators of Smith Limousine Company sold a Midtown West development site with 95,000 buildable square feet for $36.5 million, according to property records filed with the city Tuesday.

An unidentified buyer acquired the two-story, 21,670-square-foot building at 624-636 West 47th Street, between 11th and 12th avenues. The property has a limousine garage at the ground floor and office space on the second. The deal closed earlier this month for about $384 per buildable square foot.

The buyer controls 624 West 47th Street LLC. Matthew Leeds, an attorney for the buyer, declined to provide details about his client.

The site is zoned for a “variety of commercial and industrial uses,” according to a Cushman & Wakefield listing. Cushman’s Christopher Brodhead and Cameron Mitchell, who marketed the property, could not be reached for comment.

Patricia and Maureen Smith, who operate Smith Limousine Company out of the building, have owned it since 1982, records show.

Architect Manuel Glas, who is listed as the authorized signatory for the buyer, would only say that buyer does not yet have set plans for the development site.

The building is across the street from a four-story commercial building at 620 12th Avenue. Edison Properties purchased the 103,000-square-foot building for $55 million in October.