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.


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
The home of late Broadway theater producer James M. Nederlander was first listed in 2019. (Getty, Platinum Luxury Auctions)

Full-floor condo that belonged to Broadway titan heads to auction

Full-floor condo that belonged to Broadway titan heads to auction
Ziel Feldman with 150, 152 and 154 East 79th Street, and 1131 and 1135 Lexington Avenue (Getty, Google Maps)

HFZ, Ziel Feldman sued for default on Upper East Side loan

HFZ, Ziel Feldman sued for default on Upper East Side loan
Robert Frank with 1021 Park Avenue and Ben Lambert with 28 Laight Street (Getty, Google Maps)

Who’s buying and selling Manhattan homes? Last month’s notable deals

Who’s buying and selling Manhattan homes? Last month’s notable deals
109 East 79th Street and 1010 Park Avenue (Google Maps)

Upper East Side trophy property tops luxury deals — again

Upper East Side trophy property tops luxury deals — again
Condo sales over $5 million surged in Manhattan in the final quarter of 2020 (iStock)

Manhattan’s condos get year-end sales boost as inventory balloons

Manhattan’s condos get year-end sales boost as inventory balloons
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...