Rotem Rosen paid $77M to Kiska Developers

Rotem Rosen through the entity MRR 1326 LLC paid Kiska Developers’s KDI Lexington, Inc. $76.9 million for 8 parcels, including the tax class primarily five to six family with store or office (S5) at 129 East 56 Street, 678 Lexington Avenue, 680 Lexington Avenue, 684 Lexington Avenue, 131 East 56 Street, and others 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 171,100 square feet.
The average sale price per square foot is $899.
The estimated cap rate is 1.1%
The last time the property sold was January 24, 2011, for $3,600,000.

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