Kimyagarov of Massey Knakal sells development site for $2.725 million

A development site at 1900 Park Ave., located on the corner of Park Ave. and East 129th St. in the borough's East Harlem neighborhood, was sold in an all-cash transaction valued at $2.725 million. The site contains 8,993 s/f on a 99.92' x 90' lot. With C8-3 zoning and FAR of 2.0, the site allows for 17,986 buildable s/f as of right. "We had a lot of interest from developers, investors and users. This level of interest is a huge indication of the emerging nature of the neighborhood," said Massey Knakal's Lev Kimyagarov, who exclusively handled this transaction.