SOLD
Lakshmi Capital Opportunity Zone Fund Acquires East Harlem Development Site For $7.1M
2031 Third Avenue
Development Site
Sold 1 year ago
Summary
Sale
NEW YORK
Development Site
2031-2033 3rd Avenue in East Harlem has been sold for $7,100,000. This development site has a buildable square footage (BSF) of 43,875, resulting in a price per buildable square footage (PPBSF) of $161. The sale was facilitated by Ariel Property Advisors, with brokers Michael Tortorici, Mark Anderson, and Evan Hirsch representing the buyer, Lakshmi Capital Opportunity Zone Fund 1 LLC.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,100,000
- Address: 2031-2033 3rd Avenue
- Market: East Harlem
Ariel Property Advisors has been actively involved in the development and sale of MIH-designated sites in East Harlem. This transaction adds to their track record, having sold or put in contract over 575k buildable square feet of MIH development throughout New York City.
Players
All
4
Agents
3
Agencies
1
Details
SOLD
IMAGE: Michael Tortorici, Mark Anderson & Evan Hirsch
DATE: 06/16/2022
ADDRESS: 2031-2033 3rd Avenue
MARKET: East Harlem
ASSET TYPE: Development Site
BUYER: Lakshmi Capital Opportunity Zone Fund 1 LLC
BROKERS: Michael Tortorici, Mark Anderson (@Marko__Alpha) & Evan Hirsch - Ariel Property Advisors (@ArielPA.NYC)
SALE PRICE: $7,100,000
BSF: 43,875 ~ PPBSF: $161
NOTE FROM @ArielPA.NYC: 2031-2033 Third Avenue is one of only 10 MIH-designated development sites to have sold in East Harlem since the neighborhood's rezoning passed in 2017. Ariel Property Advisors has sold or put in contract over 575k buildable square feet of MIH development throughout New York City.View on map
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Address2031 Third Avenue
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