Blue Sky Real Estate paid $47M to Israel Weinberger

Blue Sky Real Estate through the entity Blue Sky 3060 Broadway LLC paid Israel Weinberger’s 3060 Broadway Property LLC $47.2 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 36 residential units at 3060 Broadway in Morningside Heights. The deal closed on June 28, 2019 and was recorded on July 24, 2019. The parcel(s) have total development potential of 72,219 square feet.
The sale price per unit is $1,311,319..
The estimated cap rate is 1.4%
The last time the property sold was February 10, 2016, for $35,250,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $316,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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