Evan Cheng Acquires 998 Fifth Avenue Co-Op From William Lauder For $37.5 Million

The property involved in this transaction is a co-op located at 998 5th Avenue in the Upper East Side market. The sale price was $37,500,000. The transaction marks a significant change in ownership, with the asset now in the hands of the buyer.

Summary of transaction details:

• Property Type: Co-Op
• Transaction Amount: $37,500,000
• Address: 998 5th Avenue
• Buyer: Evan Cheng
• Seller: William Lauder - Estée Lauder
• Seller's Gain: $14,000,000
• Previous Purchase Year: 2017

This transaction involves notable individuals: Evan Cheng, the CEO of Mysten Labs, acquired the property from William Lauder, who is associated with Estée Lauder. This sale is part of Lauder's strategy to reduce his property portfolio, with discussions ongoing about listings at other locations.