JOINT VENTURE PLANS MIXED-USE PROJECT IN MEATPACKING DISTRICT

NEW YORK CITY – Aurora Capital Associates, headed by Bobby Cayre, together with its partner, Alex Adjmi have acquired control and redevelopment rights of 21-27 Ninth Avenue through a 49-year ground lease. The site is located at the southwest corner of Ninth Avenue and West 13th Street in the Gansevoort Market Historic District in Manhattan, New York City. The partnership plans to redevelop the parcel into a retail driven mixed-use building. The property currently contains four historic single-family, three-story row houses constructed between 1844 and 1846. Alf Naman and Michele Conforti of Alf Naman Real Estate represented the buyer, a Long Island family, in the transaction. Jared Epstein of Aurora Capital, who will be spearheading the marketing campaign for the project, represented the partnership in the deal.