EJS Group Acquires Manhattan Development Site
The company purchased the Upper East Side corner property from Gastonia LLC for $32.3 million.
NEW YORK CITY – Gastonia LLC has sold a multifamily development site in New York City’s Upper East Side neighborhood, to EJS Group for $32.3 million.
The corner assemblage, located at 1303-1309 Third Ave., on the southeast corner of Third Ave. and E. 75th St., offers more than 150 feet of wraparound frontage.
JLL capital markets arranged the sale. Working on behalf of the seller to complete the sale was the JLL capital markets team, led by managing directors, Guthrie Garvin and Jonathan Hageman, directors, Jack Norton and Solomon Michailow, and New York investment sales chairman, Bob Knakal.
“1303-1309 Third Ave. is a unique development opportunity with extraordinary potential,” says Garvin. “Its location within one of Manhattan’s most sought-after neighborhoods offers developers the chance to create a stand-out residential property.”
Situated within walking distance to Central Park, world-class museums, premier schools, dining, shopping and renowned hospitals, the corner development is additionally located near the Q, 4, 5 and 6 subway lines.