In the world of mid-market New York City investment sales last week, the Durst Organization picked up two East Harlem lots for $18 million and Bushberg Properties sold a Brooklyn development site for seven times what they paid for it.
SHOP, THE NEW HARLEM WORLD SHOP!
The Durst Organization expanded its East Harlem assemblage with two lots opposite its Park Avenue development site. Durst paid $18.2 million for a 8,820-square-foot parking lot at 1801 Park Avenue, at the corner of East 124th Street, and a second lot back-to-back with the first, at 110 East 125th Streets. The property is opposite Durst’s massive development at 1800 Park Avenue, located next to the subway and MetroNorth station on East 125th Street. Durst bought the property from Ian Bruce Eichner for $91 million in 2016, and has not yet disclosed its plans for the site.
Photo credit: From left: 50 Clarkson Avenue, Douglas Durst and 1801 Park Avenue (Credit: Google Maps).