Townhouse Property pays $11M for 3 mixed-use buildings in Lenox Hill

Townhouse Property Group paid $11 million to Rosario Asta for three mixed-use buildings in Lenox Hill in three separate transactions.

In the largest, Townhouse Property Group through the entity 1152 Manhattan LLC paid $6 million to Rosario Asta through the entity 1152 Second Avenue, LLC for the two-unit mixed-use building (K4) at 1152 Second Avenue in Lenox Hill, Manhattan.
The deal closed on June 3, 2021 and was recorded on June 17, 2021.
The property has 5,000 square feet of built space and 10,005 square feet of additional air rights for a total buildable of 15,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,200 and the price per buildable square foot is $400 per the PincusCo analysis.
The signatory for Rosario Asta was Rosario Asta. The signatory for Townhouse Property Group was Sean Lavin.

The former owners according to the Department of Housing Preservation and Development included Tommasa Asta, head officer and Antonio Asta, shareholder. The business entity was 1152 Second Avenue, Llc.
Within a 400-foot radius of 1152 Second Avenue, Pincusco identified four commercial real estate items of interests occurred over the past 24 months.
One of those four items was a sale which Carter Management bought the 66,237-square-foot, 16-unit rental (D7) on 305 East 61st Street for $51.4 million from Bankrupt, former owner Mitchell Adam Marks on October 19, 2020.
Of those four items, three were loans above $5 million totaling $68 million. The most recent of the three was Carter Management which borrowed $33.0 million from Raith Capital Partners, LLC secured by the 66,237-square-foot, 16-unit rental (D7) on 305 East 61st Street on April 14, 2021.

Direct link to Acris document. link

In the second, Townhouse Property Group through the entity 1156 Manhattan LLC paid $2.5 million to Antonio Asta through the entity 1156 Second Avenue, LLC for four-unit mixed-use building (S4) at 1156 Second Avenue in Lenox Hill, Manhattan.
The deal closed on June 3, 2021 and was recorded on June 17, 2021.
The property has 4,000 square feet of built space and 10,995 square feet of additional air rights for a total buildable of 15,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $625 and the price per buildable square foot is $166 per the PincusCo analysis.
The signatory for Antonio Asta was Antonio Asta. The signatory for Townhouse Property Group was Sean Lavin.

The owners according to the Department of Housing Preservation and Development includes Tommasa Asta, head officer and Antonio Asta, shareholder. The business entity is 1156 Second Avenue, Llc.

Direct link to Acris document. link

In the third, Townhouse Property Group through the entity 1154 Manhattan LLC paid $2.5 million to Antonio Asta through the entity 1154 Second Avenue, LLC for two-unit mixed-use building (K4) at 1154 Second Avenue in Lenox Hill, Manhattan.
The deal closed on June 3, 2021 and was recorded on June 17, 2021.
The property has 4,371 square feet of built space and 10,635 square feet of additional air rights for a total buildable of 15,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $571 and the price per buildable square foot is $166 per the PincusCo analysis.
The signatory for Antonio Asta was Antonio Asta. The signatory for Townhouse Property Group was Sean Lavin.

The owners according to the Department of Housing Preservation and Development includes Tommasa Asta, head officer and Rosario Asta, shareholder. The business entity is 1154 Second Avenue, Llc.

Direct link to Acris document. link