Albert Kalimian Acquires Commercial Property In Flatiron District, Manhattan For $277M

The commercial property located at 79 Fifth Avenue in the Flatiron District of Manhattan has been sold. The transaction took place on April 29, 2022, with Albert Kalimian as the buyer and Debra Kalimian as the seller. The property features an address in a prime location within the Flatiron District.

Summary of transaction details

• Property Type: Commercial
• Transaction Amount: $276,750,000
• Address: 79 Fifth Avenue
• Market: Flatiron District, Manhattan
• Asset Type: Commercial
• Zoning: C6-4M, C6-2A

This deal involved the purchase of a commercial property with a total building size of 272,565 square feet. The price per square foot (PPSF) was $1,015. The building has a total of 168,250 buildable square feet (BSF) and a price per buildable square foot (PPBSF) of $1,644. The transaction resulted in a total lot size of 16,825.

The property has a floor area ratio (FAR) of 16.20 and falls under tax class 4. Additionally, the lot dimensions measure 106.5 feet by 159 feet. A permit for alteration 3 was issued on May 4, 2022, indicating the property's potential for modifications or renovations in the future.