March 22, 2016
A partnership consisting of Chance Gordey and Steve Mills acquired 1179 Second Ave., an L-shaped lot wrapping around the corner of East 62nd Street in New York City. The seller, the estate of Aghadjan Elghanayan, was paid $64.3 million. The parcel can accommodate up to 87,650 square feet of residential and ground-floor retail space.
The site was part of a portfolio of three properties recently sold by Elghanayan’s estate. S.W. Management purchased the two other properties, a pair of rental buildings at 355 E. 72nd St., and 250 E. 63rd St., for $310 million.
Bob Knakal with Cushman & Wakefield arranged the sale of the three properties.