Published On: Mon, Sep 22nd, 2014

Ronald Perelman Buys NY Rental Building for $120 Million

27 East 62nd Street

Billionaire Ronald Perelman’s MacAndrews and Forbes Holdings has acquired an east side Manhattan rental apartment building for $120 million, The Real Deal has reported.

It was purchased from David Kuperberg’s FirstService Residential Management.

Located in Lennox Hill between Madison and Park Avenues, 27 East 62nd Street has 57, 000 square feet of space over 9 stories. The building includes 30 rental units and roughly 4, 900 square feet of retail space. It was built in 1913.
The building offers apartments ranging in size from studios to five bedrooms. It rents go for as high as $14, 500 per month.

Douglas Elliman is currently listing a one bedroom totaling 700 square feet there for $3, 400 a month.

From the listing: “Beautiful pre-war 1 bedroom apartment off Madison Ave. A luxury 1 bedroom, 1 bath with separate dining room this apartment has crown molding throughout and is in great condition. It features new floors, light fixtures, French Doors, and a windowed marble bathroom with Jacuzzi tub. The kitchen has a marble countertop and floor, beautiful cabinets and appliances. Located in a most desirable NYC area – between Madison Ave and Park Ave- and just a block away from Central Park, and Madison & Fifth Ave. shopping. Close to all major transportation.”

Lennox Hill comprises the lowest section of Manhattan’s Upper East Side, bordering midtown. It is bordered by Lexington Ave to the East, Fifth Ave to the West and runs south to north south from East 60th Street to East 77th Street.

The neighborhood is named for a hill that once stood at 70th Street and Park Ave.

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