Engel Acquires Multi Family / Dev Site In Upper East Side For $46.5M

The multi-family and development site located at 1622-1632 York Avenue in New York City's Upper East Side neighborhood has been sold for a price of $46,500,000. The property consists of six individual properties and spans a total of 75,095 square feet with an inclusionary housing bonus of 90,012 square feet. The site is zoned as R10A and C1-5, with a potential buildable square footage of 619.

Summary of transaction details:

• Property Type: Multi Family / Dev Site (6 Properties)
• Transaction Amount: $46,500,000
• Address: 1622-1632 York Avenue, New York
• Market: Upper East Side
• Street: E. 86th
• BSF: 75,095 BSF with inclusionary housing: 90,012
• Zoning: R10A / C1-5
• PPBSF: 619

The seller of the property is Waidman Realty Corp, specifically The Estate of Jacques Chretien. On the other hand, the buyer of the property is Engel [...]