Black Spruce pays $35.9M to John Schreiber for 182 units in Manhattan

Black Spruce Management paid $35.9 million to John Schreiber for 182 units in Manhattan in two separate transactions.

In the larger, Black Spruce Management through the entity J Robinson Park LLC and WHGA Robinson Park Housing Development Fund paid John Schreiber’s Uphattan Corporation $26.2 million for 242 Bradhurst Avenue, 246 Bradhurst Avenue and 303 West 154th Street in Central Harlem. The deal closed on November 17, 2020, and was recorded on December 11, 2020. The transaction consists of 3 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 136 residential units. The parcels have total built space and development potential of 119,183 square feet.
The sale price per unit is $192,335. The signatory for the buyer was Joshua Gotlib.

The contract date was January 13, 2020. The other affiliated buyer was West Harlem Group Assistance. Black Spruce bought three small rentals from Schreiber for $6.9 million, which the firm recorded last week.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the second, Black Spruce Management through the entity J Robinson Park LLC and WHGA Robinson Park Housing Development Fund paid John Schreiber’s C-Hattan, Inc. $9.7 million for 363 Edgecombe Avenue, 367 Edgecombe Avenue in Central Harlem. The deal closed on November 17, 2020, and was recorded on December 11, 2020. The transaction consists of 2 parcels, including the tax class multifamily, over six families without stores (C1) and containing 46 residential units. The property is 12,695 square feet. The parcel(s) have total development potential of 35,253 square feet.
The sale price per unit is $209,891.

The last time the property sold was October 30, 2018, for $12,500,000.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link