Chelsea office building goes to Soho Properties for $45.7 million

A 12-story office building at 31 West 27th Street has been picked up by real estate investment firm Soho Properties, the Observer reported. The 108,594-square-foot property, which Soho chairman and CEO Sharif El-Gamal called “probably the best B building in this submarket,” went for $45.7 million, $14.2 million more than the Witkoff Group paid for it in 2006. Witkoff may also be selling its 51 percent stake in the Woolworth Building, reportedly to the Italian Sorgente Group. [NYO]