A&E Real Estate Acquires Mixed-Use Property In Sutton Place For $130M

400 East 57th Street, New York, NY 10022, USA

$130,000,000

$447/SF

Building Size

290,403 SF

Asset Type

Mixed-use

Closing

Mar 31, 2021

AI

The mixed-use property located at 400 East 57th Street in Sutton Place was recently sold in a transaction valued at approximately $130,000,000. The property spans 290,403 square feet and consists of 263 units. The sale took place in April 2021.

Summary of transation details

Property Type: Mixed-use
Transaction Amount: $130,000,000 (Approx.)
Address: 400 East 57th Street
Market: Sutton Place

A&E Real Estate, represented by James Patchett, acquired the property, while the seller was @SLGreen_Realty, represented by Marc Holliday and Andrew Matthias. The deal was facilitated by brokers Marc Sznajderman, Andrew Sasson, and Chad Sinsheimer from Cushman & Wakefield.

It's worth noting that A&E Real Estate is in contract to purchase @SLGreen_Realty's 41% stake in 400 E. 57th St., which contributed to the valuation of the property at approximately $130 million.

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