Adams & Co. affiliate pays $4M to Kofler Associates for a stake in property in Flatiron

Adams & Company Real Estate through the entity Ac 121 E 24 2020 LLC paid Kofler Associates’s The Hef LLC $4 million for a stake in 121 East 24th Street in Flatiron. The deal closed on November 9, 2020, and was recorded on November 18, 2020. The transaction consists of a stake in 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6). The property is 58,744 square feet. The parcel(s) have total development potential of 58,744 square feet.

The contract date was November 9, 2020, the same date as the closing. The last time an interest in the property sold was January 14, 2020 for $1,500,000.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $305,000.
Direct link to Acris document. link

The signatory for the buyer was John Perlman