NYCHA sells $2.7M in air rights in East Harlem to Atlantic Development

Peter Fine’s Atlantic Development Group through the entity Second and 103, LLC paid New York City Housing Authority $2.664 million for air rights to transfer to 1998 2nd Avenue in East Harlem. The deal closed on March 4, 2020, and was recorded on March 9, 2020.

Atlantic Development Group bought 9,000 square feet of development rights for $2.664 million, or $296 per square foot.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $70,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link