The building is known as Diplomat Centre. Office tenants include the Permanent Missions of Liberia, Nicaragua, Trinidad, Micronesia, Madagascar and the Korean Democratic Republic. Other tenants include the United Nations Population Fund and the United National Federal Credit Union. The sale consists of 70% of the office space and 100% of the building's retail space. The new owner plans to sell off the condo units as the current tenants' leases expire.

Eastern Consolidated's vice chairman and principal Brian Ezratty, and Scott Ellard, director, financial services, exclusively represented the seller Joseph Neumann and Charles Herzka of Broadway Management Co. Inc. They also procured the purchaser. Ed Kotite of Kotite and Kotite LLP acted for the buyer, while Wayne M. Lopkin repped the seller.

Ezratty says the sale is a unique investment opportunity at a time when the sales market in New York City is at an all-time high. "The 14 mostly full-floor units are now leased to government agencies paying an average of $32 per sf, which is significantly below market." Ellard adds that the location is near transportation, a number of proposed development sites as well as open public space along the East River.