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Showroom building sold at 202 W. 40th Street.

Eastern Consolidated Properties, Inc. announces the sale of 202 West 40th Street, a 15-story, 40,000 square-foot showroom building located just off Seventh Avenue in the heart of the Garment Center. Brian Ezratty, senior vice, president of Eastern, represented the purchasers and Neal Lorberbaum and Mitchell Cooperstock of Winoker Realty represented the sellers on an exclusive basis.

The property was recently taken back through a foreclosure. Previously there had been over $7 million in debt on the building. The deal was closed at $2,234 million, or just under $60 per square-foot on an all cash basis.

Notable showroom tenants in the building include Gottex, Yeohlee and Herbert Lewin Sales Company. The new owners are planning to upgrade the elevators and certain mechanicals. They have been active in the garment industry as both property owners and clothing manufacturers. They will he retaining Winoker Realty to manage the building.
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Title Annotation:New York, New York
Publication:Real Estate Weekly
Date:Apr 21, 1993
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