Alex Heby Acquires Mixed-Use Property In Theater District For $16M

Located in the Theater District, the mixed-use property at 47-49 W. 55th Street has been sold for a price of $16,000,000. The transaction took place on November 25, 2020. The property spans a total of 30,128 square feet and has a building square footage (BSF) of 30,128. The price per building square foot (PPBSF) is $531. Additionally, the property has a total square footage (SF) of 10,997 with a price per square foot (PPSF) of $1,454. The property comprises of 10 units, including 2 retail spaces and 8 residential units. The tax class for the property is 2B. The zoning for the property is C5-P and MiD.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $16,000,000
• Address: 47-49 W. 55th Street
• Market: Theater District
• BSF: 30,128
• PPBSF: $531
• SF: 10,997
• PPSF: $1,454
• Units: 10 (2 Retail, 8 Residential)
• Tax Class: 2B
• Zoning: C5-P, MiD

The buyer in this transaction is Alex Heby, while Frank Caselli is the seller. Alex Heby represented himself in the deal, while Frank Caselli did not have a representative.