Major Upper East Side Assemblage Investment Sale

August 28, 2018

Carlton has announced the closing of a six lot assemblage on Manhattan’s prestigious Upper East Side.

Carlton exclusively represented Merchants Hospitality which closed on the sale and joint venture of the property to a major senior living housing property owner and operator. The six lot assemblage is located directly on Second Avenue between East 93rd and 94th Streets.

The site will allow for more than 200,000 square feet of development inclusive of zoning bonuses and property can be developed into a 21-story senior living facility.  This was a very intricate closing as the transaction involved multiple sellers and numerous tenants issues which had to be worked through.  The Carlton team navigated multiples issues and provided various options to Merchants which ultimately led to a successful transaction and closing.

Photograph Source – Real Deal

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Major Upper East Side Assemblage Investment Sale