Benchmark NYC Acquires Mixed-Use Property On Madison Avenue For $12.5M

A mixed-use property located at 824-826 Madison Avenue in Lenox Hill was recently sold for $12,500,000. The property spans a total of 9,153 square feet, with a price per square foot of $1,365. The buyer, Benchmark NYC, was represented by Jordan Vogel, Aaron Feldman, and Dan Joels. The seller, Bicent Properties, was represented by Alice Netter. The transaction was facilitated by Jonathan Schwartz from Sheridan Realty, who acted as the buyer's representative, and John Florek from Fairview Property Group, who represented the seller.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $12,500,000
• Address: 824-826 Madison Avenue
• Market: Lenox Hill
• Buyer: Benchmark NYC - Jordan Vogel, Aaron Feldman, and Dan Joels
• Seller: Bicent Properties - Alice Netter
• Buyer's Representative: Jonathan Schwartz - Sheridan Realty
• Seller's Representative: John Florek - Fairview Property Group
• Square Footage: 9,153
• Price per Square Foot: $1,365

This sale transaction was completed on 2nd September 2021. The building has a total of 20,160 buildable square feet, resulting in a price per buildable square foot of $620. The sale of this mixed-use property represents a significant investment opportunity in the vibrant Lenox Hill market.