Lenox Hill walkup sells for $3.9M

The entity GT 1007 Lexington LLC registered at the Shiponi Law Firm, paid $3.9 million to Samuel Dalembert through the entity NYLex, LLC for the seven-unit residential walkup building (C7) at 1007 Lexington Avenue in Lenox Hill, Manhattan. The expected use is cash flowing.
The deal closed on September 6, 2024 and was recorded on September 13, 2024. The property has 4,165 square feet of built space and 6,545 square feet of additional air rights for a total buildable of 10,710 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $924 and the price per buildable square foot is $359 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 seller bought the property on August 15, 2012, for $4.5 million. The signatory for Samuel Dalembert was Steven Yuniver. The signatory for the buyer was Or Trabelsi. The contract date was June 25, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Shiponi Law Firm registered had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Samuel Dalembert had not purchased any other properties and sold one properties in one transaction for a total of $5.5 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Samuel Dalembert, head officer and Alfredo Sepulveda, site manager. The business entity is Nylex, Llc.

The property

The residential walkup building with 7 residential units in Lenox Hill has 4,165 square feet of built space and 6,545 square feet of additional air rights for a total buildable of 10,710 square feet according to a PincusCo analysis of city data. The parcel has frontage of 17 feet and is 70 feet deep with a total lot size of 1,190 square feet. The zoning is C1-8X which allows for up to 2 times floor area ratio (FAR) for commercial and up to 9 times FAR for residential with inclusionary housing. The property is in the Upper East Side Historic District Extension. The city-designated market value for the property in 2022 is $4 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received one DOB violation, one housing violation, and $1,700 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of seven of the 20 commercial properties representing 61,394 square feet of the 135,581 square feet. The largest owner is Solil Management, followed by L. Fisk Warren Of Michelle P Warren and then Empire Management.
There are no active new building construction projects on this tax block.

The majority, or 34 percent of the 135,581 square feet of built space are mixed-use buildings, with walkup buildings next occupying 32 percent of the space.

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