JM Revocable Trust pays $12M for multifamily property in the Upper East Side

JM Revocable Trust through Uel Rheem ss trustee paid Mary Frances Shaugnessy’s (owner per HPD) 16 East 82nd Owner LLC $12.3 million for 16 East 82nd Street in the Upper East Side. The deal closed on February 11, 2020, and was recorded on February 27, 2020. The transaction consists of 1 parcel, including the tax class multifamily, converted dwelling or rooming house (C5) and containing 8 residential units. The property is 8,099 square feet. The parcel(s) have total development potential of 8,099 square feet.
The average sale price per square foot is $1,513.

The last time the property sold was September 14, 2017, for $10,700,000.

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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link