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New York

Jewelry Exchange building sells for $85M

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The Jewelry Exchange building at 49-55 West 47th Street has sold for $85 million, according to city records posted today. The first three floors of the 13-story building house 115 jewelers. The building, built in 1963, also has about 49,500 square feet of office space and 10 residential units. The seller listed on the deed was Western Management Corp., while the buyers were listed as Wo Yee Hing Realty Corp. and Real Evergreen International. Just down the street at 44 West 47th Street, Extell is planning a 40-story tower, which will have a second entrance on West 46th Street for commercial tenants that aren’t in the diamond business. TRD