EJS Group And Krown Point Capital Acquire Development Site In Midtown East For $39 Million

The property asset involved in this context is a development site located at 1059-1061 2nd Avenue in Midtown East, Manhattan. The sale price for this asset was $39,000,000, and it was sold by Junction Management.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $39,000,000
• Buyer: EJS Group - Ted Segal & Krown Point Capital - Reggie Kronstadt
• Seller: Junction Management
• Broker Representatives: Clint Olsen, Jillian Mariutti & Stephen Van Leer - JLL
• Lender: Maxim Capital Group - Jason Bordenick & Adam Glick
• Loan Amount: $38,000,000

This transaction involved key individuals and companies, with Ted Segal representing EJS Group and Reggie Kronstadt representing Krown Point Capital as buyers. Jason Bordenick and Adam Glick were instrumental as the lending representatives from Maxim Capital Group for the loan provided for the transaction.