Faramarz Hedvat pays $3.5M for mixed-use in Kips Bay, at corner of 2nd Ave

Faramarz Hedvat through the entity Kilsev 7 LLC paid $3.5 million to Jeremiah B. Stulberger through the entity Bullfrog Realty Co LLC for the two-unit mixed-use building (S2) at 258 East 33rd Street at the corner of Second Avenue, in Kips Bay, Manhattan.
The deal closed on May 3, 2021 and was recorded on May 12, 2021.
The property has 3,454 square feet of built space and 5,829 square feet of additional air rights for a total buildable of 9,287 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,013 and the price per buildable square foot is $376 per the PincusCo analysis.
The owner bought the property on 1-May-06, for $383,478.
The signatory for Jeremiah B. Stulberger was Marcia Freud and Jeremiah B. Stulberger. The signatory for Faramarz Hedvat was Faramarz Hedvat.
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.

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