The sale price was $11.25 million, $1.25 million above the $10 million ask, according to New York City documents obtained by Deadline.
Built in 1929, the 24,000 square-foot building includes a full basement, a freight elevator and ground-floor parking. The deal was set in motion last spring with the formation of "604-606 W 48th St. LLC," filed with the New York State Secretary of State.
It was also reported that the company, which made a bid for Off-Broadway's New World Stages complex this summer, also planned to build a state-of-the-art, 1,500-seat Broadway theatre between West 45th and 46th streets.
The Shuberts built Off-Broadway's Little Shubert Theatre in 2002. The other theatres the company owns are the Ambassador (Chicago), the Barrymore (The Curious Incident of the Dog in the Night-Time), the Belasco (Hedwig and the Angry Inch), the Booth (The Elephant Man), the Broadhurst (Mamma Mia!), the Broadway (Cinderella), the Cort (This Is Our Youth), the Golden (A Delicate Balance), the Imperial (Les Misérables), the Bernard B. Jacobs (Once), the Longacre (You Can't Take It With You), the Lyceum (Disgraced), the Majestic (The Phantom of the Opera), the Music Box (Pippin), the Gerald Schoenfeld (It's Only a Play), the Shubert (Matilda the Musical) and the Winter Garden (recent home of Rocky).