Charles Brown as tenant signs 99-year ground lease in Yorkville valued at $19.8M

Charles Brown IV as signatory for 424 E. 90Th St LLC, as tenant, signed a memorandum of a 99-year ground lease with landlord Parkland Group through its entity Parkland 90 LLC for 1 parcel, including the tax class garage with two or more stories (G1) at 434 East 90th Street in Yorkville. The memorandum was signed on March 2, 2021 and was recorded on March 11, 2021
The property contains a total of 29,004 square feet of built space.
This is a 99-year ground lease, with an initial 50-year term starting March 2, 2021, then an option for an additional 25 then an additional 24 years.
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 $51,000.

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