By Daniel Geiger
February 04, 2018
The owner of an East Midtown office building that could cater to medical tenants near NYU’s large hospital campus has sold the property for $8.5 million.
Real estate investor Joesph Nazar purchased the 6-story, 12,600-square-foot property at 314 E. 34th St. from brothers Joseph and Dominic Bruzzese, who had used a portion of the property for the interior contracting business they operated together.
Nissani marketed the building and handled the sale on behalf of the Bruzzeses.
The brothers’ operation occupied the building’s ground and second floors, and they leased out other spaces in the property to construction companies, some of which were involved in recent construction work on NYU’s large nearby medical facility.
The building was delivered to its new owner fully vacant.
“Nazar looked at this as a great long-term investment and the chance to lease space out to medical tenants,” said Nissani, who operates his own brokerage firm, JSN Properties. “I could also see this property appealing to a school, a nonprofit or a United Nations tenant or mission.”