The Real Deal New York

Gorjian Real Estate is buying 192 Lexington for $90M-plus

17-story NoMad office property was at center of suit over guardianship
By Mark Maurer and Rich Bockmann | May 15, 2018 03:05PM

192 Lexington Avenue and Justin Gorjian (Credit: 192lex and Getty Images)

The Gould estate is in contract to sell a 17-story office building along Lexington Avenue in NoMad for north of $90 million, The Real Deal has learned.

The buyer is the Gorjian brothers’ Gorjian Real Estate Group, sources familiar with the deal said. The price per square foot would come out to about $640.

The roughly 140,000-square-foot property, located at 192-196 Lexington Avenue at the corner of East 32nd Street, is almost fully occupied. Denise Caminite serves as the trustee of the estate of the late Amelia Gould, a landlord and art collector who owned the building for decades, court and property records show.

Jeremy Nazarian and Graham Stephens (Credit: LinkedIn)

An HFF team led by Andrew Scandalios and Graham Stephens is representing the seller, and Jeremy Nazarian of Venture Capital Properties is representing the buyer. The brokers declined to comment, and neither the buyer nor the seller could be immediately reached.

The building was recently at the center of a lawsuit in Nassau County District Court in which Caminite was accused of moving to seal the guardianship case file while Gould, to whom she is not related, was incapacitated. Caminite was also accused in the lawsuit of “financial exploitation” and “Svengali-like manipulation,” the New York Law Journal reported. A judg ruled in September that Caminite failed to show good cause for sealing them. Gould died shortly after the ruling.

Several brokerages such as Colliers International and Cushman & Wakefield appear to have handled property management on behalf of the estate for years, records show.

The building houses several law firms including Roth & Roth, Goldberg & Fliegel and Marian Polovy Law. Mattress Firm recently opened a store at the base of the building, which also has the address of 128-132 East 32nd Street. Asking rents range between the high $40s and low $50s per square foot.

Elsewhere in the area, GDS Development signed a 99-year lease for one of NoMad’s few unbuilt lots at 1241 Broadway and AJ Property Management put an office building at 231-239 West 29th Street on the market for $125 million.