Elie Hirschfeld sells UES penthouse for $34M

Investor bought the pad for $38M about three years ago

New York /
Jul.July 31, 2019 10:30 AM
Elie Hirschfeld and 11 East 68th Street (Credit: Getty Images, Sotheby's, iStock)

Elie Hirschfeld and 11 East 68th Street (Credit: Getty Images, Sotheby’s, iStock)

Elie Hirschfeld’s Hirschfeld Properties has taken a slight loss on its investment penthouse at The Marquand in Lenox Hill.

The firm parted with the luxe triplex at 11 East 68th Street for $34.2 million, according to a property record filed Tuesday with the New York City Department of Finance. The price translates to roughly $4,846 per square foot.

Hirschfeld did not immediately return a request for comment.

Hirschfeld shelled out $37.5 million to pick up the 7,058-square-foot, five-bedroom home in 2016 from Ziel Feldman’s HFZ Capital Group. The sponsor unit’s asking price back then was $46.5 million.

The condominium was to be an investment property, Hirschfeld’s representatives told The Real Deal at the time. Hirschfeld put the apartment — which comes with four fireplaces, numerous French doors and four terraces — on the market late last year. It was asking $36 million.

In February, the firm had found a buyer. The company’s executive vice president Karl Griggs told TRD that the company had an offer and it made sense to sell.

And that buyer was Lash 68 LLC, an entity that is registered to Bennet L. Schonfeld and has an address that goes to Algin Management’s offices. A representative for Algin Management also did not respond to a message seeking comment.

Co-listing agent Serena Boardman of Sotheby’s International Realty declined to comment. The other co-listing agent, John Burger of Brown Harris Stevens, did not return a media inquiry about the deal.

HFZ Capital Group and Vornado Realty Trust acquired the century-old, 13-story building, which sits a block from Central Park along Madison Avenue, in 2011 and converted it into condominiums.


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