Carnegie Hill townhouse sells for $16M

The entity 25E92 LLC paid $16 million to David J. Topper and Margaret J. Segal for the townhouse at 25 East 92nd Street in Carnegie Hill, Manhattan.
The deal closed on January 19, 2022 and was recorded on January 28, 2022.
The property has 5,941 square feet of built space and 14,198 square feet of additional air rights for a total buildable of 20,140 square feet according to PincusCo analysis of city data. The sale price per built square foot is $2,693 and the price per buildable square foot is $794 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on August 9, 2004, for $14 million.
The signatory for David J. Topper and Margaret J. Segal was David J. Topper and Margaret J. Segal.

One of the projects were to change the number of residential units from 0 to 1 and were permitted on June 28, 2002.
In Carnegie Hill, the majority, or 76 percent of the 38.3 million square feet of built space are residential elevator buildings, with specialty buildings next occupying 9 percent of the space. In sales, Carnegie Hill has 3 times the average sales volume among other neighborhoods with $817.3 million in sales volume in the last two years and is the 14th highest in Manhattan. For development, Carnegie Hill has had very little major development activity relative to other neighborhoods. It had 709,333 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.
On the tax block, the majority, or 57 percent of the 981,386 square feet of built space are residential elevator buildings, with 1-4 family buildings next occupying 13 percent of the space.
Within a 400-foot radius of 25 East 92nd Street, PincusCo identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, two were for major renovation including a certificate of occupancy change. They were two permits with a total initial cost of $11.6 million. The most recent of these two items was the permit on September 8, 2021 for a 25,184-square-foot R-2 building with 10 residential units at 1290 Madison Avenue.
Of those seven items, five were sales above $5 million totaling $87.4 million. The most recent of the five was AZN 9E92 LLC which bought the 4,840-square-foot, two-unit two-family building (B1) on 9 East 92nd Street for $12.8 million from Anne Curtin on January 18, 2022.

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