1640 Park Ave Development Site In East Harlem Sold For $2M By Buyer Affect Group - Cathal Egan & Skyway JV

Located at 1640 Park Avenue in East Harlem, this development site was recently sold in a transaction that took place on November 15, 2021. The property, spanning an area of 21,655 square feet, is situated in a bustling market known for its vibrant culture and community.

Summary of transaction details

• Property Type: Development Site
• Sale Price: $2,000,000
• Address: 1640 Park Avenue, East Harlem
• Buyer: 1640 Park Ave - Affect Group - Cathal Egan & Skyway JV
• Seller: Great Empire Park Avenue

Representing the buyer in this sale was Alan Stenson from Brax Realty. Cathal Egan from Affect Group and Skyway JV formed a joint venture to acquire the property and were instrumental in completing the transaction.

It is worth noting that the joint venture is actively seeking ground-up development sites in Manhattan, Brooklyn, and Queens. Ideally, they are looking for properties with 15,000 to 50,000 square feet of buildable space, as they aim to secure a development pipeline of 250,000 square feet within the next 12-18 months. Any opportunities fitting their criteria can be emailed to Cathal Egan at [email protected].