News: Brokerage

HAP sells 12,000 s/f retail space to Super Fi; Arranged by Douglas Elliman’s Consolo, Aquino and Maglio

2211 Third Ave. - New York, NY 2211 Third Ave. - New York, NY

New York, NY According to HAP Investments, Super Fi Emporium supermarket has purchased 12,000 s/f of retail space in HAP’s residential building at 2211 Third Ave. The sales price was not disclosed.

“We are excited to welcome Super Fi Emporium to the building, to occupy the retail space on the ground level. We know they will make an excellent contribution to the neighborhood and to the building’s tenants, and we look forward to our retail partnership with them,” said Eran Polack, CEO of HAP Investments.

2211 Third Ave. will be a 120,000 s/f rental project, comprised of 78,000 s/f of residential space, 12,000 s/f of commercial space, 5,000 s/f of parking, and 700 s/f of community facility space.

“Super Fi Emporium is proud to bring its new supermarket to 2211 Third Ave. in East Harlem. Our focus at Super Fi Emporium is to create an atmosphere where customers always feel welcomed and appreciated, while offering a wide variety of products and services. We are excited to be working with HAP Investments in this store opening, and believe HAP’s new development in East Harlem will help us achieve our objective of keeping our customers happy and satisfied,” said Anthony Reynoso, Super Fi Emporium.

HAP Investments and Super Fi Emporium were both represented by Faith Consolo, Joseph Aquino and Arthur Maglio of the Consolo team at Douglas Elliman in this sale.

“We are pleased to have been the retail sales agent for HAP Investment’s 2211 Third Ave. development. We know the development will be a great contribution to the neighborhood, both in housing and retail services, and we look forward to working with HAP again in future developments,” said Consolo, chairman of the Douglas Elliman retail leasing and sales division.

2211 Third Ave. is applying for the Food Retail Expansion to Support Health (FRESH) program, and has submitted a Pre-Application Statement to Department of City Planning.

After approval from city planning, HAP will seek approval from the Department of Buildings. Also, the East Harlem development will serve as an 80/20 residence, offering affordable housing for at least 20 percent of the buildings units.                                                   

HAP Investments has been very active in Upper Manhattan and the East Harlem areas with properties including: 419 East 117th St., 247-249 East 117th St., 2338 2nd Ave., 329 Pleasant Ave., and 1655 Madison Ave. In addition, the company purchased a major development site at 215-219 West 28th St. in New York City’s Chelsea neighborhood. Most recently, HAP is in contract to purchase a development site at Journal Square in Jersey City, New Jersey, to be known as “HAP Tower.”

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking