Property Markets Group sells mixed-use Gramercy building for $3.9M, bought for $6.5M

Amy Wong through the entity 393 Second Avenue Group LLC paid $3.9 million to Property Markets Group through the entity 393 Second Acquisition LLC for three-unit mixed-use building (S3) at 393 2nd Avenue in Gramercy, Manhattan.
The deal closed on April 22, 2021 and was recorded on May 7, 2021.
The property has 4,810 square feet of built space and 10,895 square feet of additional air rights for a total buildable of 15,700 square feet according to PincusCo analysis of city data. The sale price per built square foot is $806 and the price per buildable square foot is $247 per the PincusCo analysis.
The owner bought the property on 9-Dec-15, for $6.5 million.
The signatory for Property Markets Group was Daniel Kaplan. The signatory for Amy Wong was Amy Wong.

Property Markets Group bought the 20-footer in 2015 for $6.5 million, likely as the start of an assemblage. However the three buildings immediately adjacent have long-term ownership and none has sold in decades.

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