124 West 36th Street

Yosef Nazar expanded his real estate portfolio with the acquisition of a 28,000-square-foot office and retail building located at 124 West 36th Street in the Garment District of Manhattan. Nazar, represented by 124 West 36th Street Assets LLC, purchased the property from Alan Mandelbaum’s Dosol Corporation for $47 million, with a sale price of $357 per square foot. The deal was financed partially through a $5 million loan from Bank of America. The purchased building, situated on a 4,113-square-foot lot, holds substantial potential for development with its additional air rights and zoning designation of M1-6, allowing for up to 10 times floor area ratio.