(Read more on the multifamily market.)
NEW YORK CITY-A five-story vacant loft building with adjacent vacant land at 2269 First Ave. in Harlem was sold by Arthur Fefferman of AFC Realty Capital in an all-cash transaction valued at $11.5 million, GlobeSt.com has learned. A source close to the deal tells us that the buyer was Mendel Mendlowitz of Adorama Inc.
The source explains that the 61-by-142 property is irregular. “It is not a square or rectangle and the length times the width does not give the exact measurements.” The property contains approximately 65,598 buildable sf and sold for $175.31 per buildable sf.
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