Celebrity chef Lidia Bastianich sells Midtown mixed-use to Tony Park for $4.7M

Tony Park through the entity 243 E 58 LLC paid $4.7 million to Lidia Bastianich and Tanya Bastianich Manuali for the mixed-use building (K4) at 243 East 58th Street in Midtown, Manhattan. This is the long-time home of the family’s flagship restaurant, Felidia.
The deal closed on September 22, 2021 and was recorded on October 8, 2021.
The property has 4,160 square feet of built space and 15,923 square feet of additional air rights for a total buildable of 20,080 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,127 and the price per buildable square foot is $233 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 signatory for Tanya Bastianich Manuali was Tanya Bastianich Manuali. The building had been marketed for sale by JLL’s Bob Knakal and Clint Olsen.

Celebrity chef Lidia Bastianich and her family owned the building and operated the well-known restaurant Felidia at the location.

Within a 400-foot radius of 243 East 58th Street, PincusCo identified nine commercial real estate items of interests occurred over the past 24 months.
Of those nine items, one was in new building development. It was a new building permit application filed on March 26, 2021 for a 14,961-square-foot office building at 308 East 59th Street.
Of those nine items, five were sales above $5 million totaling $104.9 million. The most recent of the five was Palin Enterprises which bought the 112,000-square-foot, 109-unit rental (D6) on 210 East 58th Street and two other properties for $65.1 million from Alvin Dworman on June 15, 2021.
Of those nine items, three were loans above $5 million totaling $98.8 million. The most recent of the three was Sachs Companies which borrowed $81.2 million from Prime Finance Partners secured by the 112,000-square-foot, 109-unit rental (D6) on 210 East 58th Street and two other properties on June 25, 2021.

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