SL Green Realty pays $18.5M to Daniel Boulud for retail in Lenox Hill

SL Green Realty through the entity 610 Park Avenue Commercial Owner LLC paid $18.5 million to Daniel Boulud’s Dinex Group through the entity 65th Street RE, LLC for the retail condo at 610 Park Avenue in Lenox Hill, Manhattan. The expected use is cash flowing.
The deal closed on March 4, 2026 and was recorded on March 6, 2026. The property has 17,762 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,041 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 signatory for Dinex Group was Daniel Boulud . The signatory for SL Green Realty was Andrew S. Levine . The contract date was February 25, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer SL Green Realty purchased 42 properties in nine transactions for a total of $1.4 billion and sold eight properties in seven transactions for a total of $867.6 million over the past 24 months.
The seller Dinex Group had not purchased any other properties and had not sold any properties over the same time period.

The property

The retail condo in Lenox Hill has 17,762 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 17,762 square feet. The city-designated market value for the property in 2022 is $15.5 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 not received any significant violations 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 neighborhood

In Lenox Hill, The bulk, or 34 percent of the 53.3 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 30 percent of the space. In sales, Lenox Hill has the 2nd highest sale turnover among other neighborhoods in the city with $4.7 billion in sales volume in the last two years. For development, Lenox Hill has near average amount of major developments among other neighborhoods and is the 22nd highest in Manhattan. It had 1.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of six of the 22 commercial properties representing 96,162 square feet of the 440,415 square feet. The largest owner is Kamran Hakim, followed by R. Stewart Honeyman Jr. and then Shawn Khodadadian.
There are no active new building construction projects on this tax block.

The majority, or 28 percent of the 440,415 square feet of built space are hotel buildings, with elevator buildings next occupying 20 percent of the space.

The buyer

The PincusCo database currently indicates that SL Green Realty owned at least 39 commercial properties with 796 residential units in New York City with 18,716,127 square feet and a city-determined market value of $8.1 billion. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 93 percent of the 18,716,127 square feet of built space are office properties, with elevator properties next occupying 3 percent of the space. They are all located in Manhattan.

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