Highcap Group,arranged the sale of 1464 First Ave. between East 76th and East 77th Sts. on the Upper East Side. The mixed-use building with retail and five apartments had been family owned and managed for over 40 years. The existing structure is 4,400 s/f and there are 10,000 s/f of air rights. The deal closed for $3.9 million.
Portelli and Weiss said,"The property had significant potential with short term retail lease and future development possibility." Highcap represented both buyer and seller in this transaction.