NEW YORK CITY-A local residential operator closes on its purchase of a four-building residential package comprised of 50 apartments and eight commercial stores here for $27.5 million. The properties, which were owned by the Estate of Dr. Manuel Stapen, are located at 1343-1347 Second Ave. and 242 E. 71st St. exclusively learned that the continuous five-story walk-up buildings were going on the market in September. Locally based Eastern Consolidated’s vice chairman Brian Ezratty, senior director Deborah Gutoff and director Martin Ezratty represented the seller, who had owned and operated the properties for the past 25 years. Gutoff together with Eastern Consolidated senior director Azita Aghravi procured the buyer.

“A number of factors drove this sale,” explains Gutoff, “one of the most significant was the property’s stellar location, literally blocks from the designer stores on Madison and trendy restaurants on Second and Third Avenues. It’s rare to be able to acquire such a four-building package on the Upper East Side. Consequently, the offering generated more than two dozen bids, but the winner succeeded by presenting very aggressive terms.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.