Meny Lee Acquires Apartment Building In Lower East Side, Manhattan For $19.3M

An apartment building located at 167 Eldridge Street in the Lower East Side of Manhattan has been sold for a total price of $19,275,000. The property, which is zoned as C4-4A, offers a total square footage of 32,688 and a buildable square footage of 20,116. The purchase price per square foot was $589, while the price per buildable square foot was $958. The property sits on a lot with a size of 5,029 and has a lot dimension of 50.08 ft x 100.42 ft. The transaction took place on May 13, 2022.

Summary of transation details:

• Property Type: Apartment Building
• Transaction Amount: $19,275,000
• Market: Lower East Side, Manhattan
• Buyer: Meny Lee
• Seller: John G. Kourakos
• Buildable Square Footage: 20,116
• Price per Buildable Square Foot: $958
• Total Square Footage: 32,688
• Price per Square Foot: $589
• Zoning: C4-4A
• Tax Class: 2
• Permits: Alteration 3 (12/10/2013)

Meny Lee was the buyer in the transaction, represented by their broker. John G. Kourakos was the seller. The property offers a floor area ratio (FAR) of 6.50. The deal was closed on 05/13/2022.