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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