facebook
Traded Co logo
Submit

Avdoo & Partners Development Acquires Development Site In Upper East Side For $52M With Brokers Elad Dror And Robert Knakal

Property Image
SOLD
$52,000,000

New York

See Similar Deals
Development Site83,160 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Avdoo & Partners Development Acquires Development Site In Upper East Side For $52M With Brokers Elad Dror And Robert Knakal

1341 1347 2nd Avenue

See Similar Deals
Development Site83,160 SF
Sold
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$625
Total Square Footage:83160 SF
Transaction Type:Sale

The asset involved in this transaction is a development site located at 1341-1347 2nd Avenue & 242 East 71st Street in the Upper East Side market. The sale price was recorded at $52,000,000, with a building square footage (BSF) of 100,417 and a price per building square foot (PPBSF) of $517. The site also has a total square footage (SF) of 41,580, equating to a price per square foot (PPSF) of $1,250.

Summary of transaction details:

The key individuals involved in this transaction include Elad Dror, who represents Avdoo & Partners Development, and Robert Knakal, who represents the seller in the deal. Both representatives are affiliated with their respective agencies, facilitating the transaction between the buyer and seller.

Players

Elad Dror
11 deals$153M volume(917) 669-1866
BROKER

Robert (Bob) Knakal
BK Real Estate Advisors
61 deals$3.1B volume(907) 509-9501
BROKER

PD Properties
BROKERAGE

Details

SOLD
IMAGE: Elad Dror, Shlomi Avdoo & Robert Knakal DATE: 02/05/2025 ADDRESS: 1341-1347 2nd Avenue & 242 East 71st Street MARKET: Upper East Side ASSET TYPE: Development Site BUYER: Avdoo & Partners Development BUYER'S REP: Elad Dror - PD Properties (@PDPropertiesNYC) SELLER'S REP: Robert Knakal (@BobKnakalNYC) - BK Real Estate Advisors (@BKREA_NYC) SALE PRICE: $52,000,000 BSF: 100,417 ~ PPBSF: $517 SF: 41,580 ~ PPSF: $1,250

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,773,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$184,745.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,506.53
Annual Debt Service$2,958,078.35