Michael Strauss Acquires Multifamily Property In Lenox Hill For $16.3M

The multifamily property located at 163 East 70th Street in Lenox Hill, Manhattan, has been sold in a closed transaction. The property is zoned as R8B and LH-1A, allowing for multifamily use. The transaction took place on October 21, 2022.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $16,300,000
• Address: 163 East 70th Street
• Market: Lenox Hill, Manhattan

The buyer of the property is Michael Strauss, while the seller is Jason P. Reska.

The property has a building square footage (BSF) of 10,308, with a price per BSF (PPBSF) of $1,581. The total square footage (SF) of the property is 7,216, with a price per square foot (PPSF) of $2,258. The floor area ratio (FAR) is 2.80, and the tax class is 1.

The lot size of the property is 2,577 square feet. The property underwent an alteration permit on September 28, 2016. The lot dimensions are 25.67 ft x 100.42 ft.