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Peter Fine Acquires Development Site On 2nd Avenue In East Harlem For $28.5M

Property Image
SOLD
$28,500,000
Rotem Elias
Peter Fine
Charles Dayan

New York

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Development Site106,000 SF
Sold 12/12/2018
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Property Image
SOLD

Peter Fine Acquires Development Site On 2nd Avenue In East Harlem For $28.5M

1986 2nd Avenue, East Harlem, New York, NY, USA

See Similar Deals
Development Site106,000 SF
Sold 12/12/2018
Rotem Elias
Peter Fine
Charles Dayan
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$268
Total Square Footage:106,000 SF
Transaction Type:Sale

Charles Dayan has sold a development site located at 1986-1998 2nd Avenue in East Harlem for a price of $28.5 million. The buyer of the site is Peter Fine. The transaction was facilitated by Itanel Rahmani and Rotem Elias from VCPRE.

Summary of transaction details:

The development site, purchased by Peter Fine from Charles Dayan, will be used to build 160 residential units and 14,000 square feet of retail space. The property is covered under the 421A 70/30 program. Itanel Rahmani personally assembled the site for Dayan in 2015 by acquiring it from 4 separate owners.

Players

Rotem Elias
Venture Capital Properties
Rotem Elias
1 deal$28.5M volume
BROKER
Peter Fine
Peter Fine
20 deals$477.2M volume
BUYER
Charles Dayan
Charles Dayan
5 deals$116.2M volume
SELLER

Details

SOLD
IMAGE: (Rendering) IMAGE: Charles Dayan, Rotem Elias, Peter Fine and Itanel Rahmani DATE: 12/12/2018 ADDRESS: 1986-1998 2nd Avenue MARKET: East Harlem ASSET TYPE: Development Site SELLER: Charles Dayan BUYER: Peter Fine BROKER: Itanel Rahmani and Rotem Elias @VCPRE SALE PRICE: $28.5M BSF: 106K ~ PPBSF: $268 NOTES: The site will hold 160 units and 14K SF of retail under the 421A 70/30 program. Rahmani personally assembled the site for Dayan in 2015 from 4 separate owners.

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