Torkian Group pays $12.9M to Aryeh Realty for mixed-use building in Yorkville

Torkian Group through the entity 249-251 East 82 LLC paid $12.9 million to Aryeh Realty through the entity Bb & A 82nd LLC for two-unit mixed-use building (S2) at 249 East 82nd Street in Yorkville, Manhattan.
The deal closed on July 30, 2021 and was recorded on August 9, 2021.
The property has 5,218 square feet of built space and 22,069 square feet of additional air rights for a total buildable of 27,280 square feet according to PincusCo analysis of city data. The sale price per built square foot is $2,474 and the price per buildable square foot is $473 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

The owner bought the property on 5-Apr-12, for $5.2 million.
The signatory for Aryeh Realty was Benjamin Aryeh. The signatory for Torkian Group was Hersel Torkian.

Within a 400-foot radius of 249 East 82nd Street, Pincusco identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, two were in new building development. There were one new building permit application and one new building permit. The most recent of these two items was a filing on July 16, 2021 for a 120,969-square-foot R-2 building with 106 residential units at 250 East 83rd Street.
One of those four items was a sale which Torkian Group bought the 9,815-square-foot, 20-unit rental (C5) on 242 East 83rd Street for $5.0 million from Milton Taube on July 8, 2020.
One of those four items was a loan which Copperwood Real Estate borrowed $7.8 million from First Republic Bank secured by the 12,260-square-foot, 21-unit rental (C1) on 234 East 83rd Street and one other property on September 1, 2020.

Direct link to Acris document. link