Majid Kahen Acquires Lenox Hill Commercial Property For $9.75M

The commercial property located at 1026 Third Avenue in Lenox Hill, Manhattan has been sold in a recent transaction. The property is zoned as C1-9, making it suitable for commercial use. It covers an area with a lot size of 1,700 square feet, featuring a 20 ft x 85 ft lot dimension.

Summary of transaction details

• Property Type: Commercial
• Transaction Amount: $9,750,000
• Address: 1026 Third Avenue
• Market: Lenox Hill, Manhattan
• Zoning: C1-9

The buyer of the property is Majid Kahen, while the seller is Rod Feldman. The sale was completed on 07/12/2022. The property has a building square footage (BSF) of 17,000, translating to a price per BSF (PPBSF) of $573. Additionally, the total square footage (SF) of the property is 5,542, with a price per square foot (PPSF) of $1,759.

The property has a FAR (Floor Area Ratio) of 3.26 and belongs to tax class 4. It was previously sold for $6,200,000 on 09/09/2021. A permit for alteration was issued on 04/01/2022 under the project name "Alteration 3".