The Real Deal New York

Ashkenazy buys 200 CPS leasehold from Bernard Spitzer

By Mark Maurer | January 29, 2014 04:50PM

Ashkenazy Acquisition Corp. has inked a new 20-year deal with Bernard Spitzer for the master lease of 200 Central Park South for $18 million, the developer told The Real Deal.

Spitzer, real estate mogul and father to former politician Eliot Spitzer, developed the 35-story, 564,000-square-foot building near Seventh Avenue in 1963. He sponsored its co-op conversion in 1984 and moved into the building as a resident in November, as previously reported.

The building holds 309 co-op units — some of which are rentals — as well as five commercial units and a 15,000-square-foot parking garage. The commercial space includes Le Pain Quotidien, Faust Harrison Pianos, Allegro Pianos, SBR Multisports and a medical office, property records show.

Ashkenazy will now receive all the rental income from the property, while the co-op board owns the building itself, Ashkenazy partner Daniel Levy said.

“We are very excited about the acquisition and looking forward to improving and enhancing the property,” Levy told TRD. “It’s one of the more prominent assets along Central Park South.”

John Ciraulo and Craig Waggner of Massey Knakal Realty Services brokered the leasehold deal, which closed earlier this month. Brown Harris Stevens Residential Management serves as building manager.

A spokesperson for Spitzer Engineering declined to comment on the sale.