NEW YORK CITY-Waterbridge Capital is reportedly in contract to acquire five parcels ear the intersection of East 125th St. and Park Ave. for $35 million.
The New York City-based real estate investment firm led by its CEO Joel Schreiber intends to build a 210,000 square-foot mixed-use project there that will include both residential and retail uses, according to multiple published reports.
The project would involve the demolition of an existing hotel and low-rise retail sites. Douglas Elliman's Lenny Sporn, Yair Tavivian and Ariel Tavivian represented Waterbridge and the sellers in the deal. The transaction is expected to close sometime this winter. See story in The Real Deal.
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