Steven Gautier-Winther pays $9.3M for residential elevator in Lenox Hill
24 East 73rd Street (Credit - Google)
Steven Gautier-Winther through the entity 24 East 73rd LLC paid $9.3 million to Magdalene Casola through the entity 24 East 73, LLC for seven-unit residential elevator building (D7) at 24 East 73rd Street in Lenox Hill, Manhattan.
The deal closed on July 28, 2022 and was recorded on August 4, 2022. The property has 7,206 square feet of built space and 8,979 square feet of additional air rights for a total buildable of 16,180 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,286 and the price per buildable square foot is $572 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 Magdalene Casola was J. Gregory Saver. The signatory for Steven Gautier-Winther was Steven Gautier-Winther.
Prior sales and revenue
Prior to this transaction, Pincusco has no record that the buyer Steven Gautier-Winther had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Magdalene Casola had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Magdalene Casola, head officer and Safet Hadzovic, site manager. The business entity is 24 East 73 Llc.
The property
The 24 East 73rd Street parcel has frontage of 20 feet and is 79 feet deep with a total lot size of 1,618 square feet. The zoning is C5-1 which allows for up to 4 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The property is in the Upper East Side Historic District. The city-designated market value for the property in 2022 is $6.8 million.
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Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property since September of 2020. 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 $5 million on this tax lot.
The block
On this tax block, PincusCo has identified the owners of two of the 13 commercial properties representing 22,284 square feet of the 199,118 square feet. The two identified owners are Pinkhart Trust and Khedouri K. Ezair Corp..
There are no active new building construction projects on this tax block.
The majority, or 37 percent of the 199,118 square feet of built space are elevator buildings, with retail buildings next occupying 17 percent of the space.
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