Investor Picks Up Pre-War Commercial Property for $5.6M

NEW YORK—New York real estate investor Ira Lifshutz has acquired 31 West 26th Street, a pre-war, six-story commercial loft property located in the Madison Park Historic District for $5.6 million.

Eastern Consolidated’s Ari Schwartz, associate director, represented the seller, JYN LLC, a New York-based architect, while Eastern’s Marcia Rose Yawitz, senior director, and Gabriel Saffioti, director, represented Lifshutz.

“Built around the turn of the century, the owner plans to reposition the 11,094-sq.-ft. building into floor-through offices for which there is tremendous demand in the area,” said Yawitz. “The building is within an M1-6 zone, which prohibits residential use.”