GFI Realty Services, Inc. arranged the sale of 410-412 East 115th St., a 3,785 s/f development site with 15,546 buildable s/f. This vacant lot sold for $2.33 million which translates to $150 per s/f. Located in the East Harlem section of the borough, there are proposed plans to construct a seven-story ten-unit condominium building.
Kobi Zamir, an associate of GFI Realty Services, represented the seller, BFC Partners and the buyer, a local investor.
"The buyer believes in the burgeoning East Harlem marketplace and feels that this site is ideal for a condo play," Zamir said. "This will be his first project in Manhattan and he anticipates a great demand for this kind of inventory in East Harlem."
The property is located in close to the FDR Dr., the 4, 5, and 6 subway lines as well as 1st Ave., a thriving commercial corridor. Tags: