The Corbin Group at Besen & Associates Announced the Sale of 229 East 60th Street for $8.8M

The Corbin Group at Besen & Associates announced the sale of 229 East 60th Street in the Lenox Hill neighborhood of Manhattan, The Galleum is a newly re-constructed, 5,540 s/f five story mixed-use elevator building. The property features a private garden, rear veranda, and a roof deck. The property was sold for $8,800,000 by Greg Corbin and Aaron Kline of The Corbin Group at Besen & Associates. The sale price equates to $1,588 psf, $1,467,000 per unit, a 22.35 GRM and a 2.7% cap rate. The Galleum underwent a three-year rebuild that was completed in June 2016.

 

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