Flourishing Land NY LLC paid $8M to Asset Preservation Inc. for Sky Management

Flourishing Land NY LLC paid Asset Preservation Inc. for Sky Management’s Ahst 102 LLC $8.3 million for 1 parcel, including the tax class multifamily, old law tenements (C4) and containing 20 residential units at 345 East 65 Street in Lenox Hill. The deal closed on July 31, 2019 and was recorded on August 07, 2019. The parcel(s) have total development potential of 11,632 square feet.
The sale price per unit is $414,000..
The estimated cap rate is 3.4%

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $50,960.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link