88 Lexington Avenue sold for $82M
The residential building at 88 Lexington Avenue, nearby Manhattan’s historical Gramercy Park, has been sold for $82M, according to The Real Deal. It was purchased by Halstead Management Company for $32 million in 2007. That is an increase of $50 million or 156% in just five years. The new owner is the New York-based real estate investment management company Westbrook Partners.
88 Lexington Avenue measures 152,310 square feet, has 17 floors, a 4,000-square-foot garage and 177 apartments. It was built in 1927 and designed by Necarsulmer and Lehlbach.