Prosper Property Group Purchases Mixed-Use Building From Riese Organization For $12.6M

The property asset involved in this transaction is a mixed-use building located at 1276 Lexington Avenue in the Upper East Side. The sale was finalized for a total amount of $12,600,000, which equates to a price per unit of $1,145,454 across 11 units. The building encompasses a total square footage of 16,295, leading to a price per square foot of $773. It also has a built square footage of 35,500, resulting in a price per built square foot of $355.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $12,600,000
• Address: 1276 Lexington Avenue
• Market: Upper East Side
• Units: 11
• PPU: $1,145,454
• SF: 16,295
• PPSF: $773
• BSF: 35,500
• PPBSF: $355
• Buyer: Prosper Property Group
• Seller: Riese Organization
• Broker Representatives: Zach Redding, Dylan Kane & Matt Mastrocola - Colliers

The transaction involved key individuals and companies, with Prosper Property Group acting as the buyer and Riese Organization serving as the seller. The brokers representing the transaction were Zach Redding, Dylan Kane, and Matt Mastrocola from Colliers, facilitating the deal between both parties.