RYBAK Development Group Acquires L-Shaped Dev Site In Manhattan For $12.25M

The L-shaped development site located at 24 1st Avenue and 99 East 2nd Street in Manhattan, New York, has been sold for a total price of $12,250,000. The property spans a total area of approximately 20,000 square feet. The transaction was completed between the seller, Uri Marrache of Carmar Development, and the buyer, RYBAK Development Group, represented by Sergey Rybak and Jason Reznik. The deal was facilitated by broker Shay Zach of Epic Commercial.

Summary of transaction details

• Property Type: L Shape – Dev Site
• Transaction Amount: $12,250,000
• BSF: 20,000 sf
• Price per BSF: $615
• Seller: Uri Marrache of Carmar Development
• Buyer: RYBAK Development Group – Sergey Rybak, Jason Reznik
• Broker: Shay Zach of Epic Commercial

Sergey Rybak and Jason Reznik, representing RYBAK Development Group, successfully acquired the L-shaped development site at 24 1st Avenue and 99 East 2nd Street in Manhattan. The transaction, valued at $12,250,000, showcases the continued activity and investment interest in the area. Broker Shay Zach of Epic Commercial played a pivotal role in bringing together the buyer and seller, facilitating a smooth transaction.