The Real Deal New York

Hirschfeld buys 40-unit Yorkville building for $23M

The six-floor walk-up also has two storefronts

September 27, 2016 12:50PM
By Chava Gourarie

1771 First Avenue and Elie Hirschfeld

1771 First Avenue and Elie Hirschfeld

Hirschfeld Properties bought a 40-unit rental building at 1771 First Avenue on the Upper East Side for $22.8 million or $1,054 per square foot, according to documents filed with the city Tuesday.

Hirschfeld purchased the 21,640-square-foot walk-up from Abraham Daniel’s A.D. Real Estate, which picked up the building two years ago for $14.5 million.

The six-story Yorkville building between 91st and 92nd streets has two storefronts and 40 rental units, 28 of which are rent stabilized, according to Reonomy. The apartments will add to Hirschfeld’s portfolio of over 1,000 residential units throughout the city.

Broker Rebecca Fucci of BSD Realty TRData LogoTINY represented Hirschfeld in the deal.

CEO Elie Hirschfeld, whose company was behind landmarks such as the Hotel Pennsylvania and the Manhattan Mall, is a fan of both Pope Francis and Donald Trump, who are not necessarily fans of each other. He visited the pontiff in Rome and then endorsed Trump shortly after, The Real Deal reported. Hirschfeld, who counts both Trump and Clinton as friends, said that “Donald is a giant and I would invest with him anytime.”

TRD sat down with Hirschfeld for its “Meet the Landlord” feature in late 2013.