10/15/2007

Massey Knakal sells Harlem development site for $11.5 million

by

2269-75 First Avenue

Mr. Shkury

Mr. Nelson

Arthur Fefferman, a Manhattan investor, sold a five-story vacant loft building at 2269 First Avenue in Harlem to another Manhattanite, Mendel Mendlowitz, for $11.5 million.

Fefferman was represented by Massey Knakal Realty Services Managing Director/Partner Shimon Shkury and Managing Director/Partner James Nelson.

A native of Israel, Shkury joined the firm in July 2002 and was named partner a mere 18 months later.

Nelson was named the firm's youngest partner in 2004. He also teaches at New York University's continuing education program as an adjunct professor.

The vacant Beaux Arts building at 2269 First Avenue in Harlem was originally constructed as a school in the late 1800s. The deal included an adjacent vacant lot to bring the total buildable square footage to nearly 66,000.

The property is part of a reinvigorated section of East Harlem and sits just a few blocks west of the East River Plaza, a recently opened 500,000 square foot retail center that houses a Home Depot, Target and Best Buy.

Address: 2269 First Avenue, New York City, N.Y.

Size: Five stories/66,000 square feet

Built: 1893

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Filed Under: Mixed Use

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