Edge Property Group Acquires Street Block-Through Dev. Site In Northern Manhattan For $21M

A street block-through assemblage development site located in Northern Manhattan, New York was recently sold for a total price of $21,000,000. The property, situated on West 165th/166th, spans a total square footage (BSF) of 205,444 SF with a price per buildable square foot (PPBSF) of $176. The transaction took place on 09/27/2018.

Summary of transaction details:

• Property Type: Street block-through Assemblage Dev. Site
• Transaction Amount: $21,000,000
• Address: West 165th/166th
• Market: Northern Manhattan, New York

Sand Realty Group acted as the seller in this transaction, while Edge Property Group, led by Ari Sherizen, emerged as the buyer. The deal was facilitated by ArielPA.NYC, represented by Victor Sozio, Michael A. Tortorici, and Matthew L. Gillis. The R7-2 zoning of the property allows for approximately 119,370 buildable square feet, with a community facility bonus increasing the tally to 205,444 buildable square feet.