The Worldwide Leasing Team of Faith Hope Consolo and Arthur Maglio at Douglas Elliman arranged the sale of a 12,000 square foot commercial condo in HAP Investment Developers new development at 2211 Third Avenue, on the Southeast corner of 121st Street.
Super Fi Emporium has purchased the entire ground level retail space for $10 million in the recently completed luxury rental property. This will be the supermarket’s second location in the neighborhood, having opened its original store nearby at 1635 Lexington Avenue between East 103rd and East 104th Streets.
HAP Investment Developers is an international real estate group that has firmly established itself in the New York City development market and has been very active in Upper Manhattan and the East Harlem areas. This mixed-use development with 108 residential units, a modern gym and 61 parking spaces was designed by Karl Fischer Architects and is known as “Hap Ten.”
“By participating in the FRESH program, which provides nutritious, affordable, fresh food options to underserved communities, HAP Investment Developers and Super Fi Emporium were able to obtain zoning and financial incentives for this project,” Faith Consolo said. “This transaction is truly a win-win for both the buyer and seller, and the local community.”
“With the NYC City Council recently approving the East Harlem Rezoning Proposal, strong economic growth is expected throughout the neighborhood over the next ten years,” Arthur Maglio said. “This is a great long term investment for Super Fi Emporium.”
The Faith Consolo Team exclusively represented the seller and the buyer in this transaction.