Hillside Housing Development Fund Corporation Acquires Development Site In Washington Heights For $8M

A development site located at 37 Hillside Avenue in Washington Heights has been sold in a recent transaction. The property was purchased by Hillside Housing Development Fund Corporation from James Ellis for a total of $8,000,000. The development site is zoned as R7-2 with a FAR of 3.44 for residential use and 6.5 for community facility use. The property spans a lot size of 100.42 ft x 204 ft and has a building square footage of 70,090. The transaction was completed on August 20, 2020, making it a significant deal in the Washington Heights market.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $8,000,000
• Buyer: Hillside Housing Development Fund Corporation
• Seller: James Ellis
• Zoning: R7-2 with FAR 3.44 (Residential) and 6.5 (Community Facility)
• Commercial Units: 1
• Lot Size: 100.42 ft x 204 ft

This transaction involved the following key individuals and companies:

• Buyer's Representative: Hillside Housing Development Fund Corporation - Internal Representative