Jeffrey Cheng pays $8M to Alonso Costa for mixed-use building in Plaza District

Jeffrey Ming Chug Cheng through the entity 5856 Madison Owner LLC paid $8 million to Alonso Costa through the entity Madison Park Associates for a five-unit mixed-use building (S5) at 58 East 56th Street in the Plaza District, Manhattan.
The deal closed on April 22, 2021 and was recorded on May 6, 2021.
The property has 6,750 square feet of built space and 15,330 square feet of additional air rights for a total buildable of 22,090 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,185 and the price per buildable square foot is $362 per the PincusCo analysis.
The owner bought the property on 30-Jul-08, for $8.5 million.
The signatory for Alonso Costa was Alonso A. Costa. The signatory for Jeffrey Ming Chug Cheng was Jeffrey Ming Chug Cheng and Missony Cheng.
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 contract date was November 5, 2020.
The owners before this sale according to the Department of Housing Preservation and Development included A.A. Costa, head officer and Sarah Piccione, officer. The business entity is Madison Park Associates.

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