EJS Group Acquires Upper East Side Development Site For $32.3M

The development site at 1303 & 1309 Third Ave. on the Upper East Side has been sold for a price of $32,325,000. The site has a lot dimension of 82.17 ft x 94.7 ft and offers a total buildable square footage (BSF) of 75,000 with a price per buildable square footage (PPBSF) of $431. This prime location presents a great opportunity for development in the vibrant Upper East Side market.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $32,325,000
• Address: 1303 & 1309 Third Ave.
• Market: Upper East Side
• Buildable Square Footage (BSF): 75,000
• Price per Buildable Square Footage (PPBSF): $431

The buyers of this development site are EJS Group. The deal was facilitated by brokers Guthrie Garvin, Bob Knakal, Jonathan Hageman, Solomon Michailow, and Jack Norton from JLL. Their expertise and market knowledge played a crucial role in the successful transaction. This acquisition showcases the strong demand for development opportunities in the Upper East Side market.