Zeckendorf Development Acquires Multifamily Property In Upper East Side For $250M
1289 Lexington Avenue
Mixed-use
611,613 SF
611,613 SF
Sold 1 year ago
Summary
A multifamily property at 1289 Lexington Avenue in the Upper East Side has been sold for $250,000,000. The property, totaling 230,000 square feet, consists of 61 units, resulting in a price per unit of $4,098,360. The price per square foot is estimated at $1,086. The transaction took place on February 24, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $250,000,000
- Address: 1289 Lexington Avenue
- Market: Upper East Side
- Buyer: Zeckendorf Development
- Seller: Children’s Investment Fund Foundation
- Brokers: Adam Spies, Adam Doneger & Rachel Humphrey - Cushman & Wakefield
- Units: 61
- Price per Unit: $4,098,360
- Square Footage: 230,000
- Price per Square Foot: $1,086
The buyer, Zeckendorf Development, successfully acquired the property from the seller, Children’s Investment Fund Foundation. The deal was facilitated by Adam Spies, Adam Doneger, and Rachel Humphrey of Cushman & Wakefield, who represented both the buyer and seller in the transaction.
Players
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6
Agents
3
Agencies
2
Lenders
1
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1289 Lexington Avenue
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