Charlie Attias pays $5.5M for 2-family in Lenox Hill

Charlie Attias through the entity 222 East 61 LLC paid $5.5 million to Edoardo Perazzi for the two-unit building (B3) at 222 East 61st Street in Lenox Hill, Manhattan.
The deal closed on April 4, 2023 and was recorded on April 6, 2023. The property has 4,200 square feet of built space and 3,833 square feet of additional air rights for a total buildable of 8,028 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,309 and the price per buildable square foot is $685 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 Edoardo Perazzi was Edoardo Perazzi. The signatory for Charlie Attias was Charlie Attias.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Charlie Attias had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Edoardo Perazzi had not purchased any other properties and had not sold any properties over the same time period.

The property

The two-family building with 2 residential units in Lenox Hill has 4,200 square feet of built space and 3,833 square feet of additional air rights for a total buildable of 8,028 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 100 feet deep with a total lot size of 2,007 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The property is in the Treadwell Farm Historic District. The city-designated market value for the property in 2022 is $8.9 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $300 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of five of the 23 commercial properties representing 138,985 square feet of the 241,371 square feet. The largest owner is Stonehenge NYC, followed by Olshan Properties and then Jane D’Agostino.
There are no active new building construction projects on this tax block.

The majority, or 49 percent of the 241,371 square feet of built space are elevator buildings, with mixed-use buildings next occupying 30 percent of the space.

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