The Real Deal New York

Asset management firm acquires four Lenox Hill office condos for $26M

Units in mixed-use building last sold for $22M in 2013

April 17, 2015 03:43PM
By Rey Mashayekhi

525 Park Avenue

525 Park Avenue

SRI LLC, a Midtown-based asset management firm, picked up four office condominium units in a mixed-use Lenox Hill building for $25.6 million, according to property records filed with the city Friday.

The company closed on the four units, located in a 15-story building at 525 Park Avenue, last week. The roughly 100-year-old building, near East 61st Street, holds five offices totaling nearly 12,000 square feet, according to property records, and also houses 48 residential units.

The seller, Lido Realty LLC, bought the four units for $21.7 million in 2013.

Harold Schertz, principal at SRI, did not return a request for comment. Representatives for Lido Realty could not be reached for comment.

Private equity firm Avista Capital Partners acquired a condo at the building for $16.5 million in 2013.