Thursday, January 8, 2015

Following Up (1)

In October I took a stroll along Prospect Avenue, to see how the red-hot real estate market was playing out there.  Along the way, I noticed that a parcel of buildings close to Fourth (189-195) was advertised for sale.

A couple of months later I noticed that a parcel of buildings,right around the corner on Fourth, was in contract.


Both sets of properties can be seen at this corner shot of Fourth & Prospect

It turns out that the same buyer, Rabsky Group, has bought up both sets of property.  According to an article in the Commercial Observer, the Prospect Avenue properties were purchased for $7.5 million, while the Fourth Avenue lots are in contract for "about 8 Million":

The sites carry a combined 76,000 buildable square feet, or 90,000 buildable square feet under the city’s inclusionary housing program, CPEX officials said.

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