The Reel

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A blog for breaking sales and neighborhood real estate news.

A three-story commercial building at 1032-1034 Lexington Avenue, located on the high-end retail strip of Lexington Avenue, between 73rd and 74th streets, on Manhattan’s Upper East Side, was sold in an all cash transaction valued at $10,200,000.

The property was built in the early 1900s and served as a carriage house for the 5th Avenue wealthy. More recently, it was occupied by famous French chef Daniel Boulud and was the home of the former Payard Patisserie & Bistro.

This property is thirty-four feet wide, 100 feet deep, and approximately 11,960 square feet (approx. 8,589 above grade).  The desirable location coupled with a rarely found width, and a 16’ceiling height, makes this property ideally suited for a restaurant, retailer, investor, or developer. The sale price equates to $1,187 price per square foot.

“We had an unbelievable amount of interest in the site. The well known location and 34 foot width made it extremely desirable to restaurateurs and retailers as well as investors and developers,” said Massey Knakal First Vice President of Sales Guthrie Garvin who exclusively represented the seller in this transaction.

Click here for press release

Neighborhoods: Upper East Side