H.Z. Family Trust pays $15.5M to Republic of France for 5-unit rental in Upper East Side

H.Z. Family Trust paid $15.5 million to Republic of France for five-unit rental (C2) at 45 East 68th Street in Upper East Side, Manhattan.
The deal closed on September 23, 2021 and was recorded on October 5, 2021.
The property has 10,839 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $1,429 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 Republic of France was Jeremie Robert. The signatory for H.Z Family Trust was Hua Qiao.
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.
The French government bought the building in 1981 for $474,250, according to an analysis of transfer tax records. The contract date was June 1, 2021.

Within a 400-foot radius of 45 East 68th Street, PincusCo identified 10 commercial real estate items of interests occurred over the past 24 months.
Of those 10 items, five were sales above $5 million totaling $76.7 million. The most recent of the five was Coupa LLC which bought one condo unit in 32-unit mixed-use building (RM) on 11 East 68th Street for $20.4 million from McLennan Family Trust and Michael McLennan on September 1, 2021.
Of those 10 items, five were loans above $5 million totaling $43 million. The most recent of the five was Tatiana Botton which borrowed $8 million from Bank of America secured by the 7,810-square-foot, seven-unit mixed-use building (K4) on 793 Madison Avenue on September 27, 2021.

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