The Kash Group’s Shlomo Bakhash and Skyway Development Group’s Steve Mashaal picked up a Flatiron District parking garage adjacent to a new 15-story condominium tower.
The developers paid $32.2 million to Extell Development for the seven-story, 52,300-square-foot property at 19 West 20th Street. Icon Parking has the ground lease, which expires in 2033.
Sources said Bakhash and Mashaal currently have no plans to redevelop the property.
From left: Charles Kingsley and Neil Helman
Gary Barnett’s Extell has owned the garage since 2008, when it paid $28 million.
The garage is part of a site that has largely been developed into a 13-unit luxury condo developed by Gale International that opened last year. Gale had acquired the air rights above the garage for its project.
An Avison Young team led by Vincent Carrega, Neil Helman, Charles Kingsley and Jon Epstein represented the seller.