The development site located at 656-660 Lexington Avenue in Midtown East has been sold for $24,000,000. The property, spanning 52,920 square feet, offers significant potential for development. The buyer, Sergey Rybak of RybakDev, secured the property after outbidding several qualified developers in a highly competitive market.

Summary of Transaction Details:

• Property Type: Development Site 🏗
• Sale Price: $24,000,000
• Address: 656-660 Lexington Avenue
• Market: Midtown East
• Buyer: Sergey Rybak (@RybakDev)
• Seller: The Biagi Family

Represented by Will Conrad and Damani Strasner of Cushman & Wakefield, the transaction was successfully executed within 30 days of signing a hard contract. Will Conrad initially brought the property to the market in May, capitalizing on the resurgence of New York City's rental market. For similar development sites or any inquiries, reach out to Will Conrad at [email protected] or call 646-660-1784.