Beacon Holdings Group buys Midtown office building for $15M from affiliate of Bernstein Real Estate

Beacon Holdings Group paid Randall James Levitt and an affiliate of Bernstein Real Estate’s Tangelo LLC $15.3 million for 1 parcel, including the tax class semi-fireproof office building (O5) at 3 East 44 Street in Grand Central. The deal closed on August 06, 2019 and was recorded on August 23, 2019. The parcel(s) have total development potential of 39,849 square feet.
The average sale price per square foot is $564.
The estimated cap rate is 2.1%
The last time the property sold was November 02, 2011, for $4,575,000.

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