March 11, 2020
Avison Young arranged the sale of a newly-built six-story, mixed-use property at 242 E. 58th St. in Midtown East. The property sold for $11.5 million, or $500,000 higher than the asking price.
The sale was arranged on behalf of owner Lanson Properties by principal and head of Tri-State investment sales James Nelson along with director David Shalom, associate director Eric Karmitz and associate Carter Lovejoy.
“I’m very proud of our team for swiftly completing the sale of this beautiful, turnkey asset at a figure that came in above the original asking price,” Nelson said. “Our team was the third firm to market this property and we’re happy that our team put the property in contract and closed it in less than 30 days.”
Built in 2009, the fully-vacant 10,000-square-foot mixed-use glass and steel property features ground floor, mezzanine and basement retail space, along with two residential units on upper floors.
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