1059 Third Avenue Sold and up for Condo Conversion

Wednesday, 29 Aug 2012 07:35 PM

The commercial building at 1059 Third Avenue on Manhattan’s Upper East Side has been purchased for $31.5 million by a first-time NYC developer. The buyer had a huge interest in the property, and the buyer was selected due to his ability to pay all in cash within 30 days. No word on if this was delivered in a delightfully suspicious briefcase full of Ben Franklins.

The new owner aims to tear down the building and replace it with a luxury condominium, according to the Real Deal. The Blake, another luxury condominium neighbor is at 220 East 63rd Street.