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Evan Cheng Acquires 998 Fifth Avenue Co-Op From William Lauder For $37.5 Million
New York
See Similar DealsCo-Op
Leased 09/24/2025
Evan Cheng Acquires 998 Fifth Avenue Co-Op From William Lauder For $37.5 Million
998 5th Avenue
See Similar DealsCo-Op
Leased 09/24/2025
Summary
NEW YORK
Asset Type:Co-Op
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.
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Operating Income
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Cash Flow (Annual)$0.00
Cash-on-Cash Return0.00%
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Annual Debt Service$0.00
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