Jacob Fulop pays $4.4M to Castagnello Real Estate for rental in Upper East Side

Jacob Fulop through the entity 93rd Lofts LLC paid $4.4 million to Castagnello Real Estate through the entity 322 East 93rd Street, LLC for 20-unit rental (C1) at 322 East 93 in Upper East Side, Manhattan.
The deal closed on October 12, 2021 and was recorded on October 25, 2021.
The property has 8,390 square feet of built space and 1,686 square feet of additional air rights for a total buildable of 10,068 square feet according to PincusCo analysis of city data. The sale price per built square foot is $524 and the price per buildable square foot is $437 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 Castagnello Real Estate was Gail Math Castagnello. The signatory for Jacob Fulop was Jacob Fulop.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1.3 million. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $255,000. One of the projects were to change the building from a RES to a R-2and change the number of residential units from 20 to 18.
The former owners according to the Department of Housing Preservation and Development included Bess Fern, head officer and Saul Castagnello, officer. The business entity was 322 East 93 Street LLC.

Within a 400-foot radius of 322 East 93, PincusCo identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, one was in new building development. It was a new building permit issued on November 25, 2019 for a 10,050-square-foot R-2 building with six residential units at 324 East 93rd Street.
Of those six items, two were sales above $5 million totaling $30.8 million. The most recent of the two was Stahl Real Estate which bought the 21,640-square-foot, 42-unit rental (C7) on 1771 1st Avenue for $22.8 million from Elie Hirschfeld Properties on May 20, 2021.
Of those six items, three were loans above $5 million totaling $36.8 million. The most recent of the three was Leviathan Capital which borrowed $10.8 million from Sovcombank secured by the 12,965-square-foot, six-unit rental (C2) on 324 East 93rd Street on October 13, 2021.

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