Rotem Rosen paid $10M to Kiska Developers

Rotem Rosen through the entity MRR 1326 LLC paid Kiska Developers’s Istanbul Real Estate Acquisition Company LLC $9.8 million for 1 parcel, including the tax class primarily one to six families with stores or offices (S9) and containing 6 residential units at 126 East 57 Street in Plaza District. The deal closed on July 18, 2019 and was recorded on July 24, 2019. The parcel(s) have total development potential of 27,339 square feet.
The average sale price per square foot is $591.
The estimated cap rate is 4.9%
The last time the property sold was November 05, 2014, for $5,575,000.

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 $90,500. There has been one demolition project filed for the parcels over the past five years. The demolition included 6 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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