David Bistricer's Clipper Equity Acquires Development Site In Harlem From Douglas Durst For $50M

The development site at 1800 Park Avenue, located in Harlem, Manhattan, has been sold for $50 million. This vacant plot spans 36,000 square feet with a price per square foot of $1,389. It is noteworthy for its potential, featuring over 680,000 buildable square feet and a history of stalled development.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $50,000,000
• Buyer: David Bistricer - Clipper Equity
• Seller: Douglas Durst - Durst Organization
• Broker: Robert Knakal - BK Real Estate Advisors
• Square Footage: 36,000
• Price per Square Foot: $1,389

David Bistricer, representing Clipper Equity, has acquired the property from Douglas Durst of the Durst Organization. The transaction underscores the active interest in Harlem’s development potential, with Robert Knakal from BK Real Estate Advisors facilitating the deal.