Tamir Daniel, president of Daniel T Enterprises, ([email protected]) has completed closing on two adjacent lots on the corner of Ave. D and East 5th St.: 55 Ave. D, 748 East 5th S. for the buyer, Rash LLC, a landlord and developer. In addition, Rash LLC also acquired 746 East 5th St. in foreclosure proceedings. The purchase price for the total acquisition of the three additional lots 55 Ave. D and 746 and 748 East 5th St. was $3.6 million.
"We advised the buyer of the opportunity of a property assemblage, creating a residential development site on the corner of East 5th St. and Ave. D in the total of approximately 80,000 s/f," said Daniel.
East Village Ave. D is becoming a target area for new construction development. Earlier this year, Kahen Properties, a Queens-based real estate company, revealed plans to develop a 12-story, 135-unit rental building at the corner of Ave. D and 2nd St.
Daniel had also previously worked with Rash in the acquisition of 53 Ave. D. Currently, Rash LLC is planning to develop a 12-story rental property, which will include some affordable units as part of the 80/20 program.
Daniel T Enterprises is a commercial real estate services firm specializing in investment sale and retail leasing. Tags: