Hersel Torkian's Torkian Group Acquires Mixed-Use Development Site In Yorkville For $12.9M

A mixed-use development site located at 249-251 East 82nd St. in Yorkville has been sold for $12,909,375. The property has a total buildable square footage of 27,280, resulting in a price per buildable square foot of $473. The site itself spans 5,210 square feet, equating to a price per square foot of $2,477. The sale took place on July 30, 2021.

Summary of transaction details:

• Property Type: Mixed-use/Development Site
• Transaction Amount: $12,909,375
• Buildable Square Footage: 27,280
• Price per Buildable Square Foot: $473
• Total Site Area: 5,210 square feet
• Price per Square Foot: $2,477

The buyer of the property is Hersel Torkian, representing Torkian Group. The seller is Aryeh Realty. This acquisition adds to the Torkian Group's portfolio in the Upper East Side. Torkian Group already owns 100 feet of frontage to the north of 249 E. 82nd St. and had previously purchased the adjacent building at 1583 2nd Avenue for $5.1 million in 2019.