By Roland Li
Durst Fetner Residential, the residential division of the Durst Organization, has purchased 110 West 31st Street for $8 million, according to city records.
The seller was Walter Chin, president of Brooklyn-based 110 W. 31st St. Realty Corp. An official at the company declined to comment.
The property is 7,896 s/f and four stories, according to PropertyShark, and sits adjacent to a seven-parcel development site that Durst Fetner purchased last year in a foreclosure auction.
As the Real Deal reported, real estate investors Yitzchak Tessler, Meyer Chetrit and Jacob Chetrit had previously planned to build a 355,000 s/f tower on the site, but the recession disrupted their plans. Tessler and the Chetrits had been in contract to purchased 110 West 31st Street, but they never closed on the property.
The building could be demolished to add additional size to the adjacent development site, which has 378,370 s/f of buildable space, according to PropertyShark.
A spokesman for Durst wasn’t immediately available to comment.