Sutton Place Residential Building Trades for $133.5M

A&E Real Estate has purchased the 19-story residential property at 400 East 57th Street. Located in the Sutton Place neighborhood, the 70% occupied building that spans the entire 1st Avenue blockfront between East 56th and 57th Streets hosts a mix of 263 rent-stabilized and market-rate units and 10,000 square feet of retail space. The sale by SL Green Realty attracted a price of $133.5 million, or $507,604 per unit.