MEMORANDUM OF CONTRACT: 615,888 square feet in Lenox Hill

Ecalp Corp. signed a memorandum of contract with Bridgemarket Associates, L.P. for 1 parcel, including the tax class NYC Department of Public Works (Y8) at 405 East 59 Street in Lenox Hill. The memorandum was signed on August 07, 2019 and was recorded on August 14, 2019.
The property contains a total of 615,888 square feet of built space. The property has 551,528 square feet of available development rights.
The last time the property sold was January 27, 2016, for $4,121,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on June 05, 2013.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $3,217,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link