Diamond ring designer to buy Times Square building for $92M

Isaac Chetrit previously bought the building for $55M
By Eddie Small | July 22, 2019 06:00PM

Effy Hematian and 145 West 45th Street (Credit: Getty Images, Google Maps)

Effy Hematian and 145 West 45th Street (Credit: Getty Images, Google Maps)

The Hematian family is purchasing a Midtown-office building from Isaac Chetrit for $92 million, according to sources familiar with the deal.

The Hematians, who are behind the diamond ring designer company Effy Jewelry, and its investors are in hard contract for the property at 145 West 45th Street, sources said. If it trades at that price, it will have gone for over $1,000 a foot.

Avi Ben-Ishay of Norman Bobrow brokered the deal. He and Chetrit declined to comment, and a representative for the Hematians did not respond to a request for comment.

Chetrit’s company AB & Sons purchased the 12-story building in 2015 from Thor Equities for $55 million. WeWork announced earlier this year that it had signed a 47,000-square-foot lease across five floors of the building, which spans 90,000 square feet overall.

A group of investors led by Effy Hematian purchased the 12-story building at 53-37 West 36th Street in the Garment District from Hidrock Realty in 2016 for $54 million.