From The Real Deal: "The Rockefeller Group Development Corporation paid $62.5 million for a six-story garage at 148 West 48th Street, dramatically increasing its holdings on a stretch east of Seventh Avenue near Times Square. The approximately 48,700-square-foot garage, on a 75-foot by 100-foot lot, is next to a building that Rockefeller Group controls through a 99-year lease executed in April. The garage site has a development potential of 90,373 square feet, according to PropertyShark. … Robert Knakal, chairman of brokerage Massey Knakal Realty Services, who was not involved with the sale, said the price appeared to be too steep for just a garage."
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