St. Francis Friends Of The Poor Acquires Development Site In East Harlem For $15M

The asset involved in this transaction is a development site located at 2162 3rd Avenue in the East Harlem market. The sale price was $15,000,000, with a total built square footage of 102,000 and a price per built square foot of $147. The property also has a total square footage of 29,607, resulting in a price per square foot of $506.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $15,000,000
• Buyer: St. Francis Friends of the Poor
• Seller: NewLife Holding Co
• Buyer's Representative: Katie Devine, Gene Goldstein-Plesser & Christopher Turner - Denham Wolf Real Estate Services
• Seller's Representative: Trystan Polsinelli - Compass Commercial
• BSF: 102,000
• PPBSF: $147
• SF: 29,607
• PPSF: $506

Trystan Polsinelli, Senior Executive Director at Compass Commercial, successfully procured the sale of the property. Gene Goldstein-Plesser, Senior Manager at Denham Wolf, and Christopher Turner, Principal and Managing Director of Denham Wolf, represented St. Francis Friends of the Poor, while Katie Devine consulted on behalf of the buyer in this transaction.