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.
Steinway sells its NYC building for $46m
You've reached the limit of 10 free articles 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 $1 a week