NEW YORK—The Riese Organization has acquired 211 West 34th Street at Seventh Avenue for $17.5 million. Azad Property Group’s Barry Farchi, partner, represented The Riese Organization in the deal, while Eric Patino represented the sellers, 211 West 34th Street LLC, in this transaction.

The property offers 25 ft. of street frontage and 8,900 sq. ft. of space. Located nearby are Penn Station, Macy’s and Madison Square Garden.

“Our current plans are to convert this space into a Tequilaville Restaurant & Bar, a very popular and successful proprietary brand that we currently own and operate in the Grand Central area,” said Dennis Riese, CEO of The Riese Organization.