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Sergey Rybak Acquires Development Site In Midtown East For $24M

656-660 Lexington Avenue
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This Development Site property located in NY was sold for $24,000,000 over 2 years ago. The brokers of the deal were Damani Strasner and Will Conrad

The development site located at 656-660 Lexington Avenue in Midtown East has been sold for $24,000,000. The property, spanning 52,920 square feet, offers significant potential for development. The buyer, Sergey Rybak of RybakDev, secured the property after outbidding several qualified developers in a highly competitive market.

Summary of Transaction Details:

  • Property Type: Development Site 🏗
  • Sale Price: $24,000,000
  • Address: 656-660 Lexington Avenue
  • Market: Midtown East
  • Buyer: Sergey Rybak (@RybakDev)
  • Seller: The Biagi Family

Represented by Will Conrad and Damani Strasner of Cushman & Wakefield, the transaction was successfully executed within 30 days of signing a hard contract. Will Conrad initially brought the property to the market in May, capitalizing on the resurgence of New York City's rental market. For similar development sites or any inquiries, reach out to Will Conrad at [email protected] or call 646-660-1784.

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Deals
  • Location
    656-660 Lexington Avenue, Midtown East, New York, NY, USA656-660 Lexington Avenue, Midtown East, New York, NY, USA
  • Sale Price
    $24,000,000$24,000,000
    $453 PPSF$453 PPSF
  • Area
    52,920 SF52,920 SF
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Damani Strasner

Damani Strasner

Deals5
Sold$66.5M

Agency

Cushman & Wakefield

Cushman & Wakefield

Agency
Deals4188
Volume$167B

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Deal Summary

SALE IMAGE: Will Conrad, Sergey Rybak & Damani Strasner DATE: 12/06/2021 ADDRESS: 656-660 Lexington Avenue MARKET: Midtown East ASSET TYPE: Development Site 🏗 BUYER: @RybakDev - Sergey Rybak SELLER: The Biagi Family BROKERS: Will Conrad (@WTConrad) & Damani Strasner - Cushman & Wakefield (@CushWake) SALE PRICE: $24,000,000 BSF: 52,920 ~ PPBSF: $453 NOTE FROM @CushWake: Will Conrad brought 656 Lexington to market in May of this year, just as New York City's rental market was entering a massive resurgence. The purchaser outbid numerous qualified developers, & a hard contract was signed 30 days later. Please contact us for similar development sites or with any questions: 👤Will Conrad 📧 [email protected] 📱 646-660-1784.

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656-660 Lexington Avenue

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