Goldflam, Polsinelli and Ross of Besen & Associates complete $11 million building sale

Laurence Ross, a senior investment sales broker of the platinum team at Besen & Associates has completed the sale of 16 East 46th St., between Fifth and Madison Aves. in midtown. This 5 story commercial loft building with 30,000 buildable s/f sold for $11 million, or just over $366 per s/f. Situated in C5-2.5/C5-3 zones, it has an FAR of 12 and 15 respectively and is afforded Sliver Law protection. Ross said, "While there is a wind of change and uncertainty in today's market, the site, which is slated for residential development is well poised to capitalize on its close proximity to Grand Central Station, Times Sq. and Bryant Park." Adelaide Polsinelli also of the platinum team and Joshua Goldflam of Besen also assisted.