Hank Freid and the Impulsive Group sell three UWS parcels for $44M

2686-2690 Broadway LLC paid Hank Freid and the Impulsive Group’s Branic International Realty Corp. $44.0 million for 3 parcels, including the tax class transient occupancy hotel in midtown Manhattan area (H3) at 216 West 103 Street, 2688 Broadway, 2686 Broadway in the Upper West Side. The deal closed on August 05, 2019 and was recorded on August 27, 2019. The parcel(s) have total development potential of 119,141 square feet.
The average sale price per square foot is $542.
The estimated cap rate is 4.1%
No loan was recorded with the transaction.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $856,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $658,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article