Chris M Smith Acquires Commercial Property On 5th Avenue, Lenox Hill, Manhattan For $50M

The commercial property located at 854 5th Avenue in the Lenox Hill neighborhood of Manhattan was recently sold for $50,000,000. The property is zoned as R10, PI and has a total building size of 36,500 square feet, resulting in a price per square foot of $1,369. The lot size is 3,650 square feet, with dimensions of 30.42 ft x 120 ft. The transaction took place on September 27, 2022.

Summary of transaction details

• Property Type: Commercial
• Transaction Amount: $50,000,000
• Market: Lenox Hill, Manhattan
• Zoning: R10, PI
• Square Footage: 36,500
• Price per Square Foot: $1,369
• Lot Size: 3,650
• Lot Dimension: 30.42 ft x 120 ft
• Sale Date: 09/27/2022

The buyer of the property is Chris M Smith, while the seller is Sven Alkalaj. The property transaction involved an alteration permit issued on May 6, 2003, under the tax class 4. The floor area ratio (FAR) for the property is 4.83.