HVAC expert Leonard Powers Inc. has purchased its own building as the company grows with the city’s booming housing market.
Savitt Partners brokers Hector Rodriguez and Michael Dubin negotiated the $7.1 million purchase of the four-story 442 West 49th Street building.
“Leonard Powers has been in business for over 70 years and required new space to house its growing operations,” said Rodriguez, noting the firm specializes in all types of water pumps, boilers, hot water heaters, hydronic accessories, steam stations for residential and commercial buildings.
“ One of the key requirements was the firm’s need to be located south of 96th street and not relocate to another borough,” noted Rodriguez.
“Acquiring 442 West 49th Street provided the ideal solution and also allowed our client to move into the new space immediately without any addition capital expenditures. Also, the ability to have street parking for loading and unloading supplies was another determining factor in the decision.”
Totaling 11,s/f of space, 442 West 49th Street is located Midtown and offer open floor plates, elevator access and a full patio on the fourth floor.
The ground floor is accessible via a driveway and the new ownership has some additional air rights to build on the roof.
Christoffer Broadhead of Massey Knakal represented the seller, EKH Trust in the negotiations.