Croman Real Estate pays $12M to Marlboro Realty Associates for multifamily property in Midtown East

Steve Croman’s Croman Real Estate through the entity 340 E 58 LLC paid Marlboro Realty Associates’s Mige Associates Ii, LLC $12.3 million for 340 East 58th Street in Midtown East. The deal closed on December 18, 2019, and was recorded on December 27, 2019. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 37 residential units. The property is 24,847 square feet. The parcel(s) have total development potential of 24,847 square feet.
The sale price per unit is $332,432.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $60,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link