Carl Chang Of Kairos Investment Management Acquires Friars Club Building In Midtown East For $15.5M

The property asset involved in this transaction is a special purpose building located at 57 East 55th Street in Midtown East, Manhattan. The transaction concluded at a sale price of $15,500,000, encompassing a building size of 33,170 BSF and 14,541 SF, translating to a price per BSF of $467 and a price per SF of $1,066.

Summary of transaction details:

• Property Type: Special Purpose
• Transaction Amount: $15,500,000
• Address: 57 East 55th Street
• Market: Midtown East, Manhattan
• Buyer: Carl Chang - Kairos Investment Management
• Seller: Friars National Association Inc
• Broker: Greg Corbin - Northgate Real Estate Group

Carl Chang represented Kairos Investment Management in the acquisition of the Friars Club building, which was secured through a judicial foreclosure. The seller of the property was Friars National Association Inc, facilitating the transfer of ownership in this transaction.