The luxurious condominiums in the heart of Midtown Manhattan.
In a significant real estate deal, Alpha Investment Partners has sold its commercial condo space at 200 E. 59th St., Midtown Manhattan, for $31.3 million. The buyer, Premier 200 East 59th Street LLC, plans to explore opportunities for the expansive 18,000 square feet of space. This transaction highlights the ongoing luxury real estate interest in New York, as the surrounding condominium also features several available high-end units. The sale marks a new chapter for this prime property in the bustling heart of the city.
In a buzzworthy real estate transaction, Alpha Investment Partners has officially parted ways with its commercial space nestled in the heart of Midtown Manhattan. The asset in question? The stunning two floors of its East Side condo development, located at the iconic address of 200 E. 59th St. This sale, which has set the rumor mill spinning, was completed at a whopping price of $31.3 million, as revealed by the New York City records made public last Friday.
The buyer of this impressive commercial condo unit is none other than Premier 200 East 59th Street LLC, an affiliate of Premier Equities. This partnership is gearing up for what could be an exciting future for this property. The sales agreement was finalized back in 2022, and after months of anticipation, it has finally closed!
What makes this commercial space stand out? Well, it spans an expansive 18,000 square feet, which includes the cellar, the ground floor, and the second floor of a remarkable 35-floor, 115,000-square-foot development that really embodies the hustle and bustle of New York City living.
In fact, speaking of luxury, unit 25E at 200 E. 59th St. set the bar high with a sale price of $5.2 million, marking it as the highest residential sale at the building. Other residential units in the building have also found new owners, with prices ranging from $1.4 million to $5 million from 2020 to 2025, giving many a taste of upscale urban living.
Alpha Investment Partners hasn’t always owned this gem, having acquired it from notable developer Henry Macklowe back in 2019. Once they took over, they brought in Centurion Real Estate Partners as the real estate sponsor, aiming to revitalize and maximize the potential of this Midtown masterpiece.
As of the latest update, there are no records indicating that the condominiums at this remarkable property have changed hands to Premier Equities yet. The excitement in the New York real estate scene is palpable, and all eyes will surely be on how Premier Equities plans to make the most of their new acquisition. They haven’t offered any statements at this time, but that only adds to the speculation in a city that thrives on the unexpected.
Midtown Manhattan continues to be a bustling hub of opportunity, investment, and transformation. With such impressive transactions surfacing, it’s clear that the allure of the New York real estate market remains as strong as ever. The future of 200 E. 59th St. is one to watch closely; after all, in the realm of real estate, the only constant is change, and for now, it looks like exciting developments are on the horizon!
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