Mark Vree Acquires Development Site On West Side Avenue For $6.2M

277 West Side Avenue, a development site located in the West Side market, has been sold for $6,200,000. The property spans 30,000 square feet and has a purchase price per square foot of $207. The buyer, Mark Vree, acquired the asset from the seller, Harold Kaufman. The transaction was facilitated by Yanni Marmarou and Jack Drillock of B6 Real Estate Advisors.

Summary of Transaction Details:

• Property Type: Development Site
• Transaction Amount: $6,200,000
• Address: 277 West Side Avenue
• Market: West Side

The Marmarou Team, in their note, mentions that the property offers the opportunity for a mixed-use development with the potential to construct a six-story building containing 137 units. Prior to B6 Real Estate Advisors taking over the marketing activities, the property had been on the market for 5 1/2 years without successful results.

It is important to note that the Marmarou Team is currently marketing an additional 500 residential units in the West Side Market and 700 units in the Journal Square market. For more details, interested parties can contact the team.