Kevin Lalezarian Of Lalezarian Properties Acquires Air Rights From Mossanen Group For $10.4M

The transaction involved the sale of a multi-family and development site located at 207 East 37th Street, 213 East 37th Street, and 569 3rd Avenue in the Murray Hill neighborhood of Manhattan. The sale was completed for a total price of $10,400,000, encompassing a total floor area of 44,308 square feet, resulting in a price per square foot of $235. The building's air rights were particularly noted as part of the deal.

Summary of transaction details:

• Property Type: MultiFamily & Development Site
• Transaction Amount: $10,400,000
• Buyer: Kevin Lalezarian - Lalezarian Properties
• Seller: Shaz Mossanen - Mossanen Group
• Total Building Square Feet: 44,308
• Price per Square Foot: $235
• Building Square Footage (BSF): 154,219
• Price per Building Square Foot (PPBSF): $67

Kevin Lalezarian represented Lalezarian Properties in acquiring the air rights from two residential buildings on East 37th Street, enabling the transfer of the air rights to a mid-block development site at 569 Third Avenue. Shaz Mossanen represented the Mossanen Group in this transaction.