REBusinessOnline

UPPER EAST SIDE PORTFOLIO SELLS FOR $27.5 MILLION

NEW YORK CITY — Eastern Consolidated has completed the $27.5 million sale of a four-building residential portfolio. Located at 1343-1347 Second Ave. and 242 E. 71st St. in Manhattan, New York City, the portfolio totals 50 apartment units and eight commercial spaces. The property also includes 48,975 square feet of air rights that will allow the new owner to construct a ground-up residential development of 82,120 square feet with 16,424 square feet of commercial space. Brian Ezratty, Deborah Gutoff and Martin Ezratty of Eastern Consolidated represented the seller, the estate of Dr. Manuel Stapen, and Gutoff and Azita Aghravi, also of Eastern Consolidated, procured the undisclosed buyer.

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