Toll Brothers Expands Manhattan Presence

NEW YORK CITY-Toll Brothers Inc. has added a pair of Manhattan development sites to its Toll Brothers City Living stable. A spokesman for the Horsham, PA-based builder confirms that the deals for 961 First Ave. and 82 King St. closed before year’s end, and that the combined purchase price for the two sites was $120.5 million.

The purchases “mark our seventh and eighth Manhattan buildings and our 22nd and 23rd in the metro New York City urban area,” CEO Douglas Yearley Jr. says in a release. “With buildings in Manhattan, Brooklyn, Hoboken and Jersey City, we have continued to expand in order to take advantage of the strong dynamics of this market.”