Minrav USA Acquires Development Site On Third Avenue In Manhattan For $64M

A development site located at 368 Third Avenue in Manhattan has been sold for a total price of $64,000,000. The property, owned by Itzhaki Properties and Continental Ventures, spans 116,000 square feet and offers a price per buildable square foot (PPBSF) of $550.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $64,000,000
• Address: 368 Third Avenue, New York
• Market: Manhattan
• Buildable Square Footage: 116,000 sf
• Price per Buildable Square Foot (PPBSF): $550

The buyer of the property is Minrav USA, while the sale was facilitated by the brokerage firm JLL. Yoav Oelsner, Glenn Tolchin, and Anthony Ledesma from JLL served as the brokers representing the buyer and seller in the deal.