Lalezarian buys Sutton Place rental for $25M

Long Island-based Lalezarian Properties bought a five-story apartment building in Sutton Place for $25 million. The property, at 222 East 56th Street, sits mid-block between Second and Third avenues. It contains 60 rental apartments and spans 30,600-square feet. The property has an allowed usable floor area of 112,980 square feet, according to PropertyShark. Kevin Lalezarian, a principal at Lalezarian Properties, confirmed the transaction. He said that the company plans to hold the asset long-term. The […]

Source: Real Estate

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