$25 Million Deal on Third Avenue | Robert Khodadadian
NYC – Robert Khodadadian of Skyline Properties has recently represented two clients involved in a $25 million real estate deal for properties on Third Avenue. The buyer, Charles Blaichman of CB Developers, is the new owner of three rental buildings that cover 60,000 square feet in total. These buildings are adjacent to one another and they are just the latest addition to real estate that the team at CB Developers has acquired on the same street. Previously they had already bought land on the corner of Third Avenue, which will soon be the site of a 91-unit rental building.
This land was sold by the J.T. Tai & Company Foundation, a Chinese non-profit group. Although they have owned properties in New York for decades, they are in the process of selling much of it. In addition to the land bought by CB Developers, they are also selling their Sutton Place site on Second Avenue.
As for the land purchased by Charles Blaichman, CB Developers is working with both Ironstate Development and the SK Development Group to build new rental units. The land hosts the Wharf Bar and Grill, in addition to Margarita Murphy’s. With their purchase of the three adjacent buildings, CB Developers has gained addition space to expand their projects.
The deals with CB Developers are just some of the real estate deals that have been brokered by Skyline Properties in recent weeks. Keep checking back with the Skyline Properties blog to stay up-to-date about all of our real estate brokerage deals!