Peter Drahi Acquires Office Building On York Avenue In Lenox Hill For $564.6M

Located at 1334 York Avenue in Lenox Hill, the office property was recently sold in a closed transaction. The buyer, Peter Drahi, acquired the asset from @SothebysRealty. The property spans an area of 407,259 square feet and was sold for a price of $564,600,000, resulting in a price per square foot of $1,386. The transaction was completed at a capitalization rate of 2.0%. The property was previously sold in 2009 for $370 million.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $564,600,000
• Square Footage: 407,259
• Price per Square Foot: $1,386
• Capitalization Rate: 2.0%

Peter Drahi, a French-Israeli media mogul, acted as the buyer in this transaction. Notably, Peter Drahi had previously purchased @Sothebys for $3.7 billion in October. The seller's representative in the deal was @SothebysRealty.