Read as much as you want on BostonGlobe.com, anywhere and anytime, for just 99¢.

Mass. Movers

Steinway sells its NYC building for $46m

Craftsmen at Steinway’s factory in Queens.

Steinway via Associated Press

Craftsmen at Steinway’s factory in Queens.

Continue reading below

Steinway Musical Instruments Inc. is selling its 16-story Beaux Arts building near Carnegie Hall in New York City — home to its flagship retail showroom — to JDS Development Group for $46 million. The deal lets the Waltham company, known for pianos, occupy Steinway Hall rent free for 14 months. The building needs significant upgrades, but “investors understand we’re about pianos, not about managing commercial real estate,’’ spokeswoman Julie Theriault said. A new Steinway Hall in Manhattan is planned.

Loading comments...

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week