Marcus & Millichap
260 Madison Avenue, 5th Floor
New York, NY 10016

Sold
AKA Sutton Place
330 East 56th Street, Midtown East, New York, NY 10022
Hospitality
$52.5M
Sale Price
76 Keys
Building Size
$690,789
Price / Key
Q3 2017
Closing Date
The Story
Originally sold out of Glenwood Management to Alchemy Properties as a conversion play, the asset found its highest and best use when Alchemy subsequently sold it to a long-term stay suite hotel operator, a transaction that followed the building through multiple hands and ultimately landed it in the right operational home.Property Highlights
- 17-story pre-war asset featuring 76 one and two-bedroom apartments plus a collection of brand-new penthouse suites on the top three floors
- 24-hour doorman, business center, 55-floor heated pool, fitness center, and residents lounge
Deal Team
Eric Anton