TV-marketing exec sells Lenox Hill townhouse conversion site for $8.5M at a huge loss

An affiliate of Brooklyn developer Jeffry Shemia through the entity 56 East 66th Street Residence LLC paid Anand Khubani’s ANK Manhattan II, LLC $8.5 million for 56 East 66th Street in Lenox Hill. The deal closed on September 13, 2019, and was recorded on September 23, 2019. The property is 9,441 square feet. The parcel(s) have total development potential of 9,441 square feet.
The average sale price per square foot is $1,058.

The last time the property sold was May 5, 2015, for $14,000,000, when Khubani, a television marketing businessman, bought the site and developed plans to reconfigure it as a single-family townhouse and listed it in 2015 for $19.95 million, the Wall Street Journal reported. The plans were approved in 2015 but have not permitted, according to city records.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,137,090. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $120,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.

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