Lion Cub Development & Highstone Capital Acquire Mixed-use Property On Upper East Side For $9.025M

Located on the Upper East Side, 1571-1573 Third Avenue has recently changed hands in a mixed-use property sale. The transaction was completed on July 15, 2022, with a purchase price of $9,025,000. The property spans a total of 17,560 square feet, resulting in a price per square foot of $513.

Summary of Transaction Details:

• Property Type: Mixed-use
• Transaction Amount: $9,025,000
• Address: 1571-1573 Third Avenue
• Market: Upper East Side

The buyer of the property is Lion Cub Development, represented by Andrew Aryeh, along with Highstone Capital, represented by David Elbaz. On the other hand, Katherine Wankel acted as the seller in the transaction. The seller's representatives were Brett Weisblum and Will Conrad from Cushman & Wakefield.

It's worth noting that 1571-1573 Third Avenue has been a family-owned and operated property for over 120 years. The sale of the property attracted significant attention, with over 75 showings and 25 offers received during the efficient and robust marketing process conducted by Cushman & Wakefield. The outcome of the transaction has satisfied all parties involved. Special thanks were extended to seller's attorney Ken Kanfer and Angie Formosa of Kanfer & Holtzer, LLP.

For more information on this specific transaction or to explore similar deals, interested individuals can reach out to Brett Weisblum at (212) 660-7784 or [email protected], as well as Will Conrad at (212) 660-7740 or [email protected].