Rybak pays $3.6M or $300psf for air rights on East 86th Street

Rybak Development’s 126 East 86 Street Development LLC acquired development rights from Sanders Investments through the entity 128 East 86th Street Associates, L.L.C. valued at $3.6 million for the development at 124 East 86th Street in the Upper East Side. The deal closed on November 2, 2020 and was recorded on December 8, 2020. The signatory for the buyer was Sergey Rybak

Rybak Development purchased 12,000 square feet of development rights, or $300 per square foot. Rybak Development was given a $16.2 million new construction loan last month.

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 $148,600.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link