Torkian Group Acquires Development Site At 301 East 71st Street For $25 Million

The asset involved in this transaction is a development site located at 301 East 71st Street in the Upper East Side. The property was acquired for a sale price of $25,000,000, which translates to a price per buildable square foot of $431, encompassing a total of 58,000 buildable square feet.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $25,000,000
• Address: 301 East 71st Street
• Market: Upper East Side
• Buildable Square Feet: 58,000
• Price Per Buildable Square Foot: $431
• Buyer: Torkian Group
• Seller's Representative: Helen Hwang, Brian Szczapa, Yasmin Kheradpey, Ian Shoenfeld & Justin Axelrod - Meridian Capital Group

The transaction was facilitated by a team of representatives from Meridian Capital Group, highlighting the involvement of Helen Hwang, Brian Szczapa, Yasmin Kheradpey, Ian Shoenfeld, and Justin Axelrod in representing the seller during the deal.