Tarek Alam, Thomas Bifulco pay $5.3M for rental property in Lenox Hill

Tarek Alam and Thomas Bifulco through the entity GT Hotel Enterprises LLC paid the Carl Wallman Revocable Trust’s Sumagli Realty Company LLC $5.3 million for 319 East 75th Street in Lenox Hill. The deal closed on July 28, 2020, and was recorded on August 14, 2020. The transaction consists of 1 parcel, including the tax class multifamily, miscellaneous (D9) and containing 20 residential units. The property is 11,105 square feet. The parcel(s) have total development potential of 11,105 square feet.
The sale price per unit is $262,500.

The contract date was May 29, 2020. The last time the property sold was September 14, 2012, for $5,500,000. Tarek Alam and Thomas Bifulco are tenant-in-common owners.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $90,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link