Jack Guttman paid $13M to 1281 Viele Ave. Co., LLC

Jack Guttman through the entity 1281 Viele LLC paid 1281 Viele Ave. Co., LLC $13.0 million for 1 parcel, including the tax class miscellaneous manufacturing building (F9) at 1281 Viele Avenue in Hunts Point. The deal closed on August 12, 2019 and was recorded on August 28, 2019. The parcel(s) have total development potential of 160,000 square feet.
The average sale price per square foot is $130.
The estimated cap rate is 2.0%

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on May 05, 2014.

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

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