Presbyterian Senior Services Acquires Office Condominium In Midtown East For $2.4M

The property asset involved in this transaction is an office condominium unit located at 147 East 48th Street in the Midtown East market. The sale price of the unit was $2,400,000, encompassing a total area of 5,555 square feet. The price per square foot for this transaction is calculated at $432.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $2,400,000
• Buyer: Presbyterian Senior Services
• Seller: Spears Abacus Advisors
• Brokers: Carri Lyon & Jenna Catalon, Will Conrad - Cushman & Wakefield
• Square Footage: 5,555
• Price per Square Foot: $432
• Address: 147 East 48th Street
• Date of Transaction: 12/13/2024
• Market: Midtown East

The Presbyterian Senior Services Organization acquired this third-floor office condominium unit from Spears Abacus Advisors, which had been the sole owner since the building's construction. The unit is located directly above the original Avra restaurant and is situated at the base of the luxury condominium building known as "The Cosmopolitan."