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ELO finally closes on deal with Chetrit for 15 West 47th Street

15 West 47th Street (Credit: Anomalous_A)

The ELO Organization has closed on its acquisition of 15 West 47th Street from Isaac and Eli Chetrit + Ray Yadidi’s Sioni Group for $110 million, the Real Deal reported citing public records. The 18-story building spans 120,790 SF, and has a tenant roster of gem and diamond related businesses. 

  • Pandemic discount: The ELO Organization went into contract for $115 million in February, but initially skipped the scheduled closing after the pandemic hit. After some legal wrangling, the price was reduced by $5 million. 
  • Mabrouk –– building finally sells : The property has been on the market since 2017. It sits between between Fifth and Sixth avenues, has
  • Flashback: Chetrit paid $62.5 million for the property in 2012. [TRD+Crain’s]

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