NEW YORK CITY—A five-lot assemblage on the Upper East Side has sold for $109 million. The lots contain five mixed-use buildings located at 1802-1810 Second Ave. and 303-305 E. 93rd St., with 125' of frontage on Second Avenue and 50' along East 93rd St., along with 213,000 square feet of development rights. EPIC Commercial Realty's Ido Tzaidi was the sole broker for the five building site transaction between seller Merchant Hospitality and the buyer, a senior living developer who asked not be identified.
Slated to be named the Amalfi, the tower at 303-305 E. 93rd St. was initially intended to serve as luxury housing and the buyer found the building's high-end work appealing, says Tzaidi. “Merchant's plans for the Amalfi gave the site a perfect spin and piqued the interest of the Senior Living Co.”
Adds Yona Edelkopf, CEO of EPIC, “Ido worked this deal and formed an important and meaningful relationship with the seller in order to assist in finding the perfect investor for the site.”
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
