Noam Shemel Acquires Development Site On Upper East Side For $8.5M

The development site located at 1477 3rd Ave. in the Upper East Side was recently sold for $8,500,000. The property spans 4,745 square feet, with a price per square foot of $1,791. The buyer of the site was Noam Shemel, while the seller was Rodney Spring & Spring Swinehart. Representing the seller was Brett Weisblum from Cushman & Wakefield.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $8,500,000
• Address: 1477 3rd Ave.
• Market: Upper East Side
• Buyer: Noam Shemel
• Seller: Rodney Spring & Spring Swinehart
• Seller's Rep: Brett Weisblum - Cushman & Wakefield
• SF: 4,745
• PPSF: $1,791

1477 Third Avenue has been within the same ownership for over 150 years. This is the first time the building was offered for sale, as it has always been tenanted. The boutique high-end project will take advantage of the prime location and easy access to all the corridor has to offer.

Please reach out to Brett Weisblum at (212) 660-7784 or [email protected] for more information.