Vallarino family pays $5.2M for mixed-use building in Kips Bay

The Vallarino family paid $5.2 million to 235 E. 31 Street Corp. for a mixed-use building (S1) at 235 East 31st Street in Kips Bay, Manhattan.
The deal closed on May 24, 2021 and was recorded on June 3, 2021.
The property has 5,000 square feet of built space and 928 square feet of additional air rights for a total buildable of 5,925 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,040 and the price per buildable square foot is $877 per the PincusCo analysis.
The signatory for 235 E. 31 Street Corp. was Jason M. Zegans. The signatory for The Juan Vallarino Revocable Trust and The Neith Elizabeth Vallarino Revocable Trust was Juan Vallarino.

The former owners according to the Department of Housing Preservation and Development included Michael Simon, head officer and Jane Forman, agent. The business entity is 235 E. 31 Street Corp.

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