Chang Chun Deng pays $4.3M to Harriet Karr McDonald for 4-unit walkup in Yorkville

Chang Chun Deng through the entity 68-1509 Estate LLC paid $4.3 million to Harriet Karr McDonald through the entity Karr Mcdonald, Harriet for four-unit 1-4 family building at 232 East 84th Street in Yorkville, Manhattan.
The deal closed on January 20, 2022 and was recorded on February 4, 2022.
The property has 4,388 square feet of built space and 2,553 square feet of additional air rights for a total buildable of 6,948 square feet according to PincusCo analysis of city data. The sale price per built square foot is $991 and the price per buildable square foot is $626 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.)
Prior to this transaction, the buyer Chang Chun Deng had not purchased any other properties and had not sold any properties over the past 24 months.

Chang Chun Deng is a member of another property along with Yong K He. Icon Realty Management owns the property to the west and a three unit-condo building is to the east.
In Yorkville, the majority, or 71 percent of the 43.2 million square feet of built space are residential elevator buildings, with residential walkup buildings next occupying 17 percent of the space. In sales, Yorkville has 1.4 times the average sales volume among other neighborhoods with $398.1 million in sales volume in the last two years and is the 23rd highest in Manhattan. For development, Yorkville has 1.7 times the average amount of major developments relative to other neighborhoods and is the 13th highest in Manhattan. It had 1.5 million square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.
On the tax block, the majority, or 55 percent of the 568,075 square feet of built space are residential elevator buildings, with residential walkup buildings next occupying 17 percent of the space.
The former owners according to the Department of Housing Preservation and Development included Harriet Karr McDonald, joint owner and George McDonald, joint owner.
Within a 400-foot radius of 232 East 84th Street, PincusCo identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, two were in new building development. There were one new building permit application and one new building permit. The most recent of these two items was a filing on July 16, 2021 for a 120,969-square-foot R-2 building with 106 residential units at 250 East 83rd Street.
One of those seven items was a sale which Torkian Group bought the 9,815-square-foot, 20-unit rental (C5) on 242 East 83rd Street for $5 million from Milton Taube on July 8, 2020.
Of those seven items, four were loans above $5 million totaling $57 million. The most recent of the four was SMA Equities which borrowed $34.3 million from Safra National Bank secured by the 29,227-square-foot, 17-unit office building (O5) on 1491 3rd Avenue and two other properties on October 7, 2021.

Direct link to Acris document. link