Kandchorov & Romanoff Family Acquires Office Portfolio In Manhattan For $18.5M With Brokers Goldflam, Ezratty & Ellard
55 West 45th Street, 34-36 West 46th Street, 46 West 46th Street & 48 West 46th Street
$18,500,000
$1,551/SF
Building Size
11,921 SF
Asset Type
Office
Closing
Aug 31, 2026
About this deal
AI
The property asset involved in this transaction consists of four retail and office buildings located on 45th and 46th Streets between 5th and 6th Avenues in Manhattan. The buildings span a total of 44,841 square feet and were sold for $18,500,000, translating to a price per square foot of $413.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $18,500,000
- Buyer: Kandchorov & Romanoff Family
- Seller: Kutz & Siolas Families
- Buyer's Representative: Josh Goldflam - Highcap Group
- Seller's Representatives: Brian Ezratty & Scott Ellard - Newmark
This transaction marks the acquisition of a 50-year family-owned portfolio by the Kandchorov & Romanoff Family, and reflects their strategy in investing in prime Manhattan assets. The representation by Highcap Group for the buyer and Newmark for the seller underlines the involvement of experienced brokerage firms in this notable deal.
On the Map
$18,500,000
$1,551/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93