Published On: Tue, Sep 1st, 2015

David I. Berley-Led Investment Group Acquiring Midtown East Site for $18.3M

5-east-47th-street

An investment group led by Walter & Samuels Chairman David I. Berley is right now closing on the $18.3 million purchase of a seven-story office building with 16, 000 square feet of air rights, at 5 East 47th Street, Commercial Observer has learned.

“It’s under-built. We’re happy to buy it because the extra value never goes away, ” Mr. Berley told CO, noting that five stories could be added.

Read the full story at Commercial Observer, by Lauren Elkies Schram 

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