CBSK Developers Acquires 36-Unit Multifamily Building In Turtle Bay, Manhattan For $34.5M

CBSK Developers, represented by Scott Shnay, has acquired a multifamily property located at 930 First Avenue in Turtle Bay, Manhattan. The property consists of a 36-unit residential elevator building and was sold by Giorgio Angelini for a total price of $34,500,000. This transaction took place on June 14, 2023.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $34,500,000
• Address: 930 First Avenue
• Market: Turtle Bay, Manhattan
• Buyer: CBSK Developers - Scott Shnay
• Seller: Giorgio Angelini
• Units: 36
• Price per unit: $958,333
• Building square footage: 75,770
• Price per building square footage: $455
• Total square footage: 38,720
• Price per square footage: $891

The sale of the property provides CBSK Developers with an opportunity to expand their real estate portfolio in Turtle Bay, Manhattan. This acquisition adds 36 residential units to their holdings and allows for a total buildable area of 75,770 square feet, including an additional 37,051 square feet of air rights. This transaction demonstrates CBSK Developers' commitment to investing in the multifamily market in Turtle Bay.