Jacob Ellie Safra sells Carnegie Hill co-op unit for $60M

Otto 88th Street Trust acquired the residential cooperative unit 14PH from Jacob Ellie Beaucaire Safra valued at $60 million at 2 East 88th Street in Carnegie Hill, Manhattan.
The deal closed on August 24, 2021 and was recorded on August 31, 2021.

The signatory for Jacob Ellie Beaucaire Safra was Jacob Ellie Beaucaire Safra. The signatory for Otto 88th Street Trust was Seth D. Slotkin.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $341,910.
This is for unit 14PH. The Wall Street Journal reported on the sale last month.

Within a 400-foot radius of 2 East 88th Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on August 18, 2021 for the $1.8 million renovation of 19,071-square-foot R-3 building with one residential unit at 3 East 89th Street.
Of those three items, two were loans above $5 million totaling $77.2 million. The most recent of the two was CBSK Ironstate and Arel Capital which borrowed $70.0 million from Madison Realty Capital secured by the 55,746-square-foot, 16-unit rental (D6) on 1230 Madison Avenue on August 24, 2021.

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