Vipin Garg Purchases Mixed-Use Building In Sutton Place, Manhattan For $4M

Vipin Garg, through the entity Denali Estate, LLC, has purchased a two-unit mixed-use building at 405 East 57th Street in Sutton Place, Manhattan, for $4 million. The property consists of 2 units, with a price per unit (PPU) of $2 million. The building has a total floor area of 10,150 square feet (BSF), equating to a price per square foot (PPSF) of $394. The individual unit has a floor area of 2,500 square feet, with a price per square foot (PPSF) of $1,600, making it an attractive investment in the Sutton Place market.

Summary of transaction details

• Property Type: Mixed-Use
• Transaction Amount: $4,000,000
• Units: 2
• Price per Unit: $2,000,000
• Total Floor Area: 10,150 square feet
• Price per square foot (Building): $394
• Individual Unit Floor Area: 2,500 square feet
• Price per square foot (Unit): $1,600

Vipin Garg, the buyer, is expanding his real estate portfolio in Sutton Place. This purchase at 405 East 57th Street comes after his acquisition of a similar mixed-use property at 401 East 57th Street for $7 million in 2019. Garg's strategic investments demonstrate his confidence in the neighborhood's growth potential and solidify his presence in the area. Peter K. Ting acted as the seller in the transaction, facilitating the smooth transfer of the property from one owner to another.