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Three-Building Midtown Portfolio Sells for $52M

NEW YORK CITY-The properties form a near-perfect square at 34th Street and Fifth Avenue, directly across from the Empire State Building. Eastern Consolidated Properties represented the seller and procured the buyer.

By Glen Thompson | Updated on November 01, 2002

NEW YORK CITY-Three adjacent buildings, two on Fifth Avenue and one on West 34th Street, have been sold by Dah Chong Hong Trading Corp. in a $52-million deal. Lloyd Goldman’s Jacob First LLC bought the properties, which are known as the DCH Portfolio.

Eastern Consolidated Properties director Mingo Lee represented the seller and procured the buyer of the properties, which Goldman had owned for 20 years.

The three contiguous office buildings, 1 W. 34th St., 358 Fifth Ave. and 362 Fifth Ave. comprise roughly 222,000 sf with a 16,729-sf footprint. Together, the three buildings form a square at the corner of 34th Street and Fifth Avenue.

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