Yorkville properties sell for $35.5M to anonymous buyer

In the first transaction, 355 East 86Th Street Lp paid Bremen House Inc.’s Bremen House, Inc. $14.5 million for 1653 1st Avenue in Yorkville. The deal closed on December 21, 2020 and was recorded on January 21, 2021. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 33 residential units. The property is 36,237 square feet. The parcel(s) have total development potential of 36,237 square feet.
The sale price per unit is $439,394.

The buyer is anonymous behind an LLC at the address of the law firm Stein Adler Dabah & Zelkowitz. The contract date was October 12, 2020. This is part of four properties acquired from the Bremen House that are in three nearby tax blocks for $35.5 million. Three were recorded today and one for $3.5 million recorded January 12, 2021 for 304 East 86th Street.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $20,300.

Direct link to Acris document. link
The signatory for the buyer or lender was Michael Dabah

In the second, 220 East 86Th Street Lp paid Bremen House Inc.’s Bremen House, Inc. $14.0 million for 220 East 86th Street in Yorkville. The deal closed on December 21, 2020 and was recorded on January 21, 2021. The transaction consists of 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 42 residential units. The property is 38,590 square feet. The parcel(s) have total development potential of 38,590 square feet.
The sale price per unit is $333,333..

The contract date was October 12, 2020.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $520,500.

Direct link to Acris document. link

In the third, 300 East 86Th Street Lp paid Breman House Inc.’s German News Company, Inc. $3.5 million for 1656 2nd Avenue in Yorkville. The deal closed on December 21, 2020 and was recorded on January 21, 2021. The transaction consists of 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 9 residential units. The property is 7,000 square feet. The parcel(s) have total development potential of 7,000 square feet.
The average sale price per square foot is $500.

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.

Direct link to Acris document. link