Naftali Group paid $10M to MAHONEY REALTY, LLC

Naftali Group through the entity 1461-1469 THIRD AVE OWNER LLC paid MAHONEY REALTY, LLC $9.7 million for 1 parcel, including the tax class primarily one to six families with stores or offices (S9) and containing 2 residential units at 1461 3 Avenue in Yorkville. The deal closed on June 28, 2019 and was recorded on July 11, 2019. The parcel(s) have total development potential of 27,040 square feet.
The average sale price per buildable square foot is $604.
The estimated cap rate is 3.2%

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $127,300. There has been one demolition project filed for the parcels over the past five years. The demolition included 8 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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