Rosewood Realty Group announced the sale of a midtown office building on West 45th Street for $36 million.
The 12-story, 55,150-square-foot, Class B building at 62 West 45th St. between Fifth and Sixth Avenues features 12 office suites and one retail space. Recent capital improvements include a fully renovated lobby, upgraded elevator cabs and new tenant amenity center.
The building, constructed in 1911, sold for a cap rate of 3.67%.
LSI Advisors represented the buyer, Stellar Services, an information/technology company. Rosewood’s Aaron Jungreis and Ben Khakshoor represented the seller, Ken Fishel, president of Renaissance Properties.
Stellar Services plans to occupy the whole building, which is close to Times Square, Rockefeller Center, Bryant Park and Grand Central Station.
