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Midtown South Garage Secures A 99-Year Leasehold

NEW YORK CITY—The four-story, 26,926-square-foot property comes with a 29,625-square-foot zoning floor area.

By Rayna Katz | Updated on October 18, 2016
333 E. 22nd St. An investment group has acquired a 99-year leasehold interest in a parking garage at 333 E. 22nd St.

NEW YORK CITY—An investment group led by Walter & Samuels chairman David Berley has acquired a 99-year leasehold interest in a parking garage. The four-story, 26,926-square-foot garage—located at 333 E. 22nd St.—comes with a 29,625-square-foot zoning floor area.

The owner, Mayflower Garage Co., was represented in the transaction by Brian Ezratty, vice chairman and principal of Eastern Consolidated, who also procured the lessee. Scott Ellard, VP and principal, financial devices at Eastern Consolidated, was the analyst for the deal. Attorneys Samuel Ross and Dov Brandstatter of Olshan Frome Wolosky represented the owner. It was not clear at press time who, if anyone, represented the buyer on the deal.

“We are very excited about the opportunities this site presents,” says Berley. “This is a great area, the current building has huge floor loads, and for the right tenant we could demolish the building and build-to-suit.”

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