240 East 27th Street Condominium (The) | TRD Research
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240 East 27th Street Condominium (The)

240 East 27th Street
New York, NY 10016
Sales, Condo
  • Address 240 East 27th Street
  • neighborhood Kips Bay
  • borough Manhattan
  • developer BRACK CAPITAL REAL ESTATE
  • owner entity 240 EAST 27TH STREET OWNER LLC
  • PLANS DISCLOSED 03/27/2006
  • AG Initial Price $ 276,464,100
  • ag file plans 03/27/2006
  • AG FILE Link
  • residential units 324
  • commercial units 2
  • hotel units 0
  • total units 326
  • const. status JOB FILED
  • block and lot 1-00907-0025
  • BIN 1019855
  • Event Sales
  • Address 240 East 27th Street
  • Neighborhood Kips Bay
  • Borough Manhattan
  • Square feet 292,000
  • Price $ 158,000,000
  • Price per foot $ 541.10
  • Publication Date 07/01/2006
  • Event Date 05/22/2006
  • Party 1 Wards Construction
  • Party 1 Brokerage RMB Properties
  • Party 1 Broker Rama Bassalali
  • Party 2 Brack Capital
  • Party 2 Brokerage Brack Capital
  • Party 2 Broker Moshe Azogui
notes
The 324-unit property, which includes a 200-car garage, sold for $158 million, which represents a sub-four capitalization rate, a per square foot price of $541, and a gross rent multiple of 16. Brack plans to convert the building into condominiums.