Ezratty and Ellard of EC complete 12-year lease for parking garage

Eastern Consolidated has arranged a 12-year lease valued at $20 million for the below ground bi-level parking garage within Carnegie Towers, a 172-unit, 38-story mixed-use cooperative residence located on East 87th St. between Park and Lexington Aves. Eastern Consolidated's Brian Ezratty, vice chairman with analyst Scott Ellard represented the lessor, 115 East 87th St. Cooperative, as well as procured the lessee, Central Parking Systems led by Hector Chevalier and Ralph Bonin. "The exceptionally well-located garage, in the heart of the Upper East Side's bustling Carnegie Hill neighborhood, currently allows for 198 spaces, and is filled with both monthly and transient parkers," said Ezratty. One-third of the 436,000 s/f co-op (140,000 s/f) above the garage is occupied by the Robert F. Kennedy School. Ezratty had previously handled the lease 10 years ago for the cooperative and was again tapped to run the RFP process. The attorneys were James Spitzer, Esq., Holland & Knight who acted for the lessor and Hank Abbot, Esq., who negotiated in-house for Central Parking Systems.

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