Michael Rena Gets Triplets! Buys Adjoining Co-ops From Harry Lis and Wife
New York real estate developer Harry Lis and wife Melissa Lis just sold their co-op apartment combination at 31 East 72nd Street for $9.425 million, turning a profit on their sale to Michael Rena, a neighbor. Rena already owns an adjoining high-floor apartment in this Upper East Side building.
Like a select few other apartment owners in Manhattan, this means that Rena now has triplets: three contiguous co-ops.
In 2006, Harry Lis paid $6.75 million for one co-op and $2 million for another adjoining apartment to create a combined unit. In today’s market, turning a $650,000 profit on the sale is a nice chunk of change.
The 8-room, 3 bedroom, 3½ bath apartment has a low monthly maintenance of just $2,326 This co-op has incredible sun-drenched rooms from its southern and western exposures. You can see Central Park from the dining room, and relax in the living room, library, or master bedroom — all of which get southern exposures.
The co-op has New York City Landmarks Preservation Commission status, a combination boon and a bane. In theory, such a designation adds value to an apartment building and neighborhood district. On the downside, however, even minor changes to apartment windows, building facades, and signs may be subject to LPC review and scrutiny — a costly process for co-op shareholders and boards.
Floor plan credit: Sotheby’s International Realty