Izaki Group Investments has picked up three adjacent Upper East Side walk-up apartment buildings in New York city a $42 million deal. Located on East 86th Street between First and Second Avenues, the sale includes as-of-right air rights and transferrable development rights from a neighboring property, allowing Izaki to build a 71,240 sqf building up to 210 feet tall. Two of the buildings, 310 and 312 East 86th Street, stand three storeys tall and the third, 314 East 86th Street, has four floors. All three buildings have commercial units in the ground floor. The transaction was completed with a $26.8 million mortgage provided by Bank Leumi. JLL’s Glenn Tolchin, Yoav Oelsner and Anthony Ledesma brokered the deal.
