Naftali Group paid $13M to 1560 ASSOCIATES LLC

Naftali Group through the entity 1461-1469 THIRD AVE OWNER LLC paid 1560 ASSOCIATES LLC $12.7 million for 1 parcel, including the tax class primarily three family with store or office (S3) and containing 3 residential units at 1465 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 27,384 square feet.
The average sale price per buildable square foot is $791.
The estimated cap rate is 2.1%
The last time the property sold was April 03, 2014, for $10,250,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. 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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