The transaction involved two buildings, 645 and 659 11th Avenue, between West 47th and 48th streets. Together, the two properties represent 250,000 sf of loft space, delivered vacant upon closing.
"We were able to leverage our longstanding relationships with parties on both sides of the transaction to achieve maximum return on this investment," says M. Luca Capin, president of Capin & Associates.
The Capin brokerage team, led by Benjamin Shafran and Isaac Kohannim, represented both the buyer and seller in this transaction.
Founded in 1997, New York City-based Capin is a full-service real estate firm that guides individual and institutional investors to uncover hidden potential and maximize return on investment for a wide variety of real estate inventory.
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