A Upper East Side condo conversion just sold at auction, a possible sign of distress in New York City’s real estate market. Jason Carter of Carter Management Corp. paid $51 million for the 65,000-square-foot, 14-unit project at 305 East 61st Street, according to Commercial Observer. Developer Mitchell Marks’ conversion of the former art facility had a projected sellout of $105 million. Marks and his partners bought the property for $40 million in 2016 in an
source https://therealdeal.com/2020/09/22/upper-east-side-condo-conversion-fetches-51m-at-auction/
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