Peter Fine Acquires Development Site On 2nd Avenue In East Harlem For $28.5M | 1986-1998 2nd Avenue | Rotem Elias | Development Site | Sale

Summary

Sale

NEW YORK

Development Site

106,000 sqft

Charles Dayan has sold a development site located at 1986-1998 2nd Avenue in East Harlem for a price of $28.5 million. The buyer of the site is Peter Fine. The transaction was facilitated by Itanel Rahmani and Rotem Elias from VCPRE.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $28.5 million
Date: 12/12/2018
Address: 1986-1998 2nd Avenue, East Harlem
Market: East Harlem
Asset Type: Development Site
Seller: Charles Dayan
Buyer: Peter Fine
Broker: Itanel Rahmani and Rotem Elias @VCPRE

The development site, purchased by Peter Fine from Charles Dayan, will be used to build 160 residential units and 14,000 square feet of retail space. The property is covered under the 421A 70/30 program. Itanel Rahmani personally assembled the site for Dayan in 2015 by acquiring it from 4 separate owners.

Players

All
2

Agents
1
Agencies
1

Rotem Elias

Investment Sales Advisor

$28.5M Sold

Venture Capital Properties

Details

Deal Summary

SOLD

IMAGE: (Rendering) IMAGE: Charles Dayan, Rotem Elias, Peter Fine and Itanel Rahmani DATE: 12/12/2018 ADDRESS: 1986-1998 2nd Avenue MARKET: East Harlem ASSET TYPE: Development Site SELLER: Charles Dayan BUYER: Peter Fine BROKER: Itanel Rahmani and Rotem Elias @VCPRE SALE PRICE: $28.5M.5 BSF: 106K ~ PPBSF: $268 NOTES: The site will hold 160 units and 14K SF of retail under the 421A 70/30 program. Rahmani personally assembled the site for Dayan in 2015 from 4 separate owners.

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Address1986-1998 2nd Avenue

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