NEW YORK—A local investor has paid $3.5 million for the acquisition of 459 West 43rd Street in Manhattan’s Hell’s Kitchen neighborhood. Azad Property Group Partner Mansour Tabibnia and Billy Billitzer of Rosewood Realty closed the deal, representing the buyer and seller, respectively.

The building spans five walk-up floors and contains 13 apartment units as well as a carriage house for a total of 6,640 sq. ft. of space. The buyers are planning to convert the property to a five-story luxury apartment building.

Currently, the property is 90 percent vacant.

“The buyers have a good presence in the area and were aiming to add units to their portfolio; this was a perfect fit for them,” said Tabibnia.