Mixed-Use Building At 934-940 Second Ave. In Midtown East Sells For $12M With Lee & Associates Brokers
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This Mixed-use property located in NY was sold for $12,000,000 almost 3 years ago. The brokers of the deal were Vickram Jambu, Jonathan Braun, George Steffani, and Chris Varjan
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- Location934-940 2nd Avenue, New York, NY, USA
- Sale Price$12,000,000$882 PPSF
- Area13,595 SF
- Asset TypeMixed-use
- Parties4 Brokers, 2 Agencies
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Deal Summary
SALE
IMAGE: Jonathan Braun, Vickram Jambu, Chris Varjan & George Steffani
DATE: 04/12/2021
ADDRESS: 934-940 Second Ave.
MARKET: Midtown East
ASSET TYPE: Mixed-use
SELLER: Wilson Evans Trust
BROKERS: Chris Varjan (@CVar23), @VickramJambu, Jonathan Braun (@BraunJon) & George Steffani - Lee & Associates (@LeeAssociatesNYC)
SELLER’S COUNSEL: Jason Davidson @Rosenberg_Estis
SALE PRICE: $12,000,000
SF: 13,595 ~ PPSF: $882
NOTE FROM @LeeAssociatesNYC: The building was delivered largely vacant with several regulated tenants in place. As a result, the buyer has taken a very long term approach to the property. The property will undergo a rehabilitation as part of the buyer's generational outlook.
Lee & Associates has successfully put several similar covered land deals into contract over the past 60 days. We have seen a strong uptick in activity since the beginning of February with many new to market investors and end-users driving activity. We have also seen a big influx of activity from our leasing teams as the world continues to normalize. Here at Lee & Associates we take pride in the fact that we run an extremely collaborative office across all of our business lines. Today more than ever we are taking advantage of this structure to make sure our clients get the best real-time information/comps and service possible. Please feel free to reach us with any/all real estate needs.
👤Chris Varjan
📧 [email protected]
☎️ 212-776-1272
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934-940 Second Avenue
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