Cris Burnam Acquires Mixed-Use Property In Lenox Hill, Manhattan For $34.1M

The property involved in this transaction is a mixed-use asset located at 1124 1 Avenue in the Lenox Hill market of Manhattan. The sale price for this asset was $34,100,000. The total building size is 65,000 square feet, with a price per square foot of $525. The lot size is 10,821 square feet, with lot dimensions of 71.58 ft x 131.5 ft. The zoning designation for this property is C8-4, and it has a floor area ratio (FAR) of 6.01. The tax class for the property is 4, and the last recorded sale price was $10,600,000 on February 26, 2003.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $34,100,000
• Building Size (SF): 65,000
• Price Per Square Foot (PPSF): $525
• Lot Size: 10,821
• Last Sale Price: $10,600,000
• Address: 1124 1 Avenue
• Market: Lenox Hill, Manhattan
• Zoning: C8-4
• FAR: 6.01
• Tax Class: 4

The buyer of the property is Cris Burnam, while the seller is Jon Dario. This transaction reflects a significant change in ownership within the market, moving from the previous owner to the current buyer. The transaction was executed on December 16, 2021.