NEW YORK CITY—Imperial Parking has signed a 15-year lease, worth an aggregate of approximately $6 million, for a 99-space garage located at 215 East 24th Street in Gramercy Park.
Senior director Adelaide Polsinelli of Eastern Consolidated both represented the lessor, the Board of Directors of the Penny Lane Cooperative, and procured the lessee. Polsinelli was selected by the Board because of her experience in leasing garages and her experience as president of her own co-op board at a building downtown.
Situated one block to the south of 23rd Street, one of the City’s main east/west arteries, the one-story garage is situated beneath the 180-unit residential coop. Parking spaces may be rented hourly, daily and monthly.
Imperial Parking was represented by Jordan J. Metzger Esq., Stempel Bennett Claman & Hochberg PC; and the Penny Lane was represented by Joseph Burden Esq., Seth A. Liebenstein Esq., Craig L. Price Esq., Belkin Burden Wenig & Goldman LLP.