Chapman Group pays $35M to Ronald Perelman, McAndrews & Forbes for office property in Lenox Hill

The Chapman Group paid $35 million to Ronald Perelman and his investment vehicle McAndrews & Forbes Incorporated for office property in Lenox Hill in two separate transactions.

In the first, GMC Parking and the affiliated Chapman Group through the entity CF Consulting Twenty Five LLC paid $25 million to Ronald Perelman and McAndrews & Forbes Incorporated through the entity Thirty Five East Corporation for the office building (O2) at 35 East 62nd Street in Lenox Hill, Manhattan.
The deal closed on April 9, 2021 and was recorded on April 22, 2021.
The property has 19,200 square feet of built space and 0 square feet of additional air rights for a total buildable of 16,068 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,302 and the price per buildable square foot is $1,555 per the PincusCo analysis.
The signatory for Ronald Perelman|McAndrews & Forbes Incorporated was Jeffrey Brodsky. The signatory for GMC Parking|Chapman Group was Patrick Milner.

In the second transaction, GMC Parking and Chapman Group through the entity Cf Consulting Twenty Six LLC paid $10.0 million to Ronald Perelman and McAndrews & Forbes Incorporated through the entity 41 East LLC for office building (O2) at 39 East 62nd Street in Lenox Hill, Manhattan.
The deal closed on April 9, 2021 and was recorded on April 22, 2021.
The property has 15,270 square feet of built space and 0 square feet of additional air rights for a total buildable of 14,060 square feet according to PincusCo analysis of city data. The sale price per built square foot is $654 and the price per buildable square foot is $711 per the PincusCo analysis.
The owner bought the property on 29-Oct-04, for $14.6 million.
The signatory for Ronald Perelman|McAndrews & Forbes Incorporated was Jeffrey Brodsky. The signatory for GMC Parking|Chapman Group was Patrick Milner.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $87,000. (103242484) One of the projects were to change the building from a COM to a RES and change the number of residential units from 0 to 1 and were permitted on March 11, 2005.

Correction: A previous version of this post misspelled Ronald Perelman’s last name.