Black Spruce Management & Orbach Affordable Housing Solutions Acquires Mixed-Use Property In Lenox Hill, Manhattan For $631.3M

A mixed-use property located at 523 & 530 East 72nd Street & 1113 York Avenue in Lenox Hill, Manhattan has been sold. The transaction took place on November 23, 2022. The property was sold by Solow Realty & Development, represented by Steven Weymouth. The buyers, Black Spruce Management & Orbach Affordable Housing Solutions, were represented by Joshua Gotlib. The sale price for the property was $631,270,485. It consists of 623 units, resulting in a per unit price of $1,013,275.

Summary of transaction details:

• Property Type: Mixed-Use
• Transaction Amount: $631,270,485
• Address: 523 & 530 East 72nd Street & 1113 York Avenue, Lenox Hill, Manhattan
• Market: Lenox Hill, Manhattan

Steven Weymouth represented Solow Realty & Development in the transaction. On the other side, Joshua Gotlib acted as the representative for Black Spruce Management & Orbach Affordable Housing Solutions. The deal involved the sale of a mixed-use property with a total of 623 units. The buyers purchased the property for a total of $631,270,485, equivalent to a per unit price of $1,013,275.