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Mixed-Use

Meridian Investment Negotiates $19M Sale of Mixed-Use Property in Manhattan’s Kips Bay

240-E-28th-St-NYC

Located at 240 E. 28th St. in Manhattan’s Kips Bay, the six-story mixed-use building features 28 residential units and two ground-floor retail spaces.

NEW YORK CITY — Meridian Investment Sales has brokered the sale of a mixed-use property located at 240 E. 28th St. in Manhattan’s Kips Bay neighborhood. A.D. Real Estate Investors sold the property to a private buyer, managed by Sal Notaro, for $19 million. Built in 1920, the six-story building features 28 residential units and two ground-floor retail spaces. The property recently underwent a more than $1 million renovation program, which upgraded the lobby, interior hallways, laundry facilities and façade. Adam Sprung of Meridian represented the buyer and seller in the deal. Meridian Investment Sales is the commercial property sales division of Meridian Capital Group.

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