Michael Alvandi’s City Urban Realty pays $15M to Michael D’Annunzio for property in Vinegar Hill

Michael Alvandi’s City Urban Realty through the entity Water Street Ventures LLC paid Michael D’Annunzio’s South Heights Development LLC $15.0 million for 254 Water Street in Vinegar Hill. The deal closed on September 19, 2019, and was recorded on October 9, 2019. The transaction consists of 1 parcel, including the tax class multifamily, luxury type (D8) and containing 26 residential units. The property is 28,358 square feet. The parcel(s) have total development potential of 28,358 square feet.
The sale price per unit is $576,923.

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