Alpha Realty arranged the sale of 1462 Second Ave. on the Upper East Side for $9.6 million.
The five-story building consists of 8,620 s/f, with eight apartments and one store. Additionally there were also over 13,500 s/f of unused air rights. The sales price equates to $1,114 per s/f. Both parties in the transaction were local private investors.
"The buyer was in a 1031 exchange and was searching for a clean avenue property with existing air rights. This building perfectly met all acquisition criteria, which made the building very attractive," said Glenn Raff, who represented both parties in this transaction. Tags: