Gotham pays $52.2M to Chinese-American Planning Council for parcel in LES development

The Gotham Organization’s GO Broome LLC acquired an interest from the Chinese-American Planning Council through the entity CPC One LLC valued at $52.2 million for 2 parcels in the Lower East Side including 688 Norfolk Street. The deal closed on December 23, 2020 and was recorded on January 19, 2021.
This is for parcels within the Gotham Organization’s large affordable development. The sale carried no city transfer tax but the state taxed the transfer $340,405.
This is part of a large development Gotham is leading in the Lower East Side.
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