Manhattan Multifamily Property Sells for $7.95M in Lenox Hill
Lauren Mintz purchases a multifamily property in Lenox Hill for $7.95M from Ward Cunningham-Rundles.
Lauren Mintz has acquired a multifamily property located at 240 East 68th Street in Lenox Hill, Manhattan for 7.95M from Ward Cunningham-Rundles. The property is a 5,178 square foot building with 7,268 buildable square feet and a PPBSF of 1,093. The lot size is 1,817 square feet and the property is zoned R8B with a FAR of 2.85. The property was last altered in 2014 and is classified as tax class 1.
The property is located in the Lenox Hill neighborhood of Manhattan, which is known for its high-end residential properties and proximity to Central Park. The area is also home to several prestigious hospitals and medical centers, including New York Presbyterian Hospital and Memorial Sloan Kettering Cancer Center.
The buyer, Lauren Mintz, is a real estate investor and developer based in New York City. Mintz has been active in the New York City real estate market for several years and has a portfolio of properties throughout the city.
The seller, Ward Cunningham-Rundles, is a private individual who has owned the property for several years. The sale marks a successful exit for Cunningham-Rundles, who was able to realize a significant return on his investment.
The brokers on the deal were not disclosed. However, given the size and location of the property, it is likely that several prominent commercial real estate brokers were involved in the transaction. The sale of the property is indicative of the strong demand for multifamily properties in Manhattan, particularly in high-end neighborhoods like Lenox Hill.