Updated Sep 11, 2025
Kevin Lalezarian Acquires Commercial Property On 3rd Avenue In Murray Hill, Manhattan For $4.5M
571 3rd Avenue, New York City, New York 10016, United States
$4,500,000
$761/SF
Building Size
5,910 SF
Asset Type
Commercial
Closing
May 30, 2022
About this deal
AI
The commercial property located at 571 3rd Avenue in Murray Hill, Manhattan has been sold in a closed transaction. The property is zoned as C1-9 and has a total building square footage (BSF) of 18,470. The price for the property was $4,500,000, resulting in a price per BSF (PPBSF) of $243. The property has a total area of 5,910 square feet, with a price per square foot (PPSF) of $761. The lot size is 1,847 square feet and the lot dimensions are 15.83 ft x 84.83 ft. The transaction also involved the issuance of an alteration permit on July 26, 2007.
Summary of transaction details
- Property Type: Commercial
- Sale Price: $4,500,000
- Buyer: Kevin Lalezarian
- Seller: Lloyd Goldman
In this transaction, Kevin Lalezarian acted as the buyer, while Lloyd Goldman represented the seller. The property is classified under tax class 2B and has a floor area ratio (FAR) of 3.20.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93