Joseph Nazar Acquires Commercial Property In Garment District For $15.45M

The commercial property located at 221 West 37th Street in the Garment District of Manhattan has been sold in a transaction that closed on 05/25/2022. The property is zoned M1-6 and GC, allowing for various commercial uses. The transaction involved a sale price of $15,450,000. The buyer of the property is Joseph Nazar, while the seller is Zoheir Aghravi. The property has a total floor area of 35,300 square feet, with a price per square foot of $437. Additionally, the property spans 21,180 square feet, with a price per square foot of $729. The lot size of the property is 3,530 square feet. The property has a FAR (Floor Area Ratio) of 6.00 and falls under tax class 4. Notably, the property had an alteration permit issued on 07/25/2016 under permit type "Alteration 2." The lot dimensions of the property measure 35.75 feet by 98.75 feet.

Summary of transaction details

• Property Type: Commercial
• Transaction Amount: $15,450,000
• Market: Garment District, Manhattan
• Zoning: M1-6, GC
• Buyer: Joseph Nazar
• Seller: Zoheir Aghravi
• Price per Square Foot: $437
• Total Square Feet: 35,300
• Lot Size: 3,530
• Permit: Alteration 2 (07/25/2016)
• Lot Dimensions: 35.75 ft x 98.75 ft

Joseph Nazar represented the buyer in this transaction, while Zoheir Aghravi represented the seller.