SMA Equities buys $5M in air rights for development in Gramercy

SMA Equities acquired air rights for $5 million for its development at 299 Third Avenue in Gramercy. The deal closed on May 22, 2020 and was recorded on June 9, 2020.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There has been one new building permit application totaling 53,557 square feet. Those plans include a total of 108 residential or hotel units. There have been 2 demolition projects filed over the past five years.
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Direct link to the city’s interactive property map, ZOLA. link

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