Anbau Enterprises has snapped up a trio of Upper East Side buildings that it will redevelop for $33 million, a source told The Real Deal. The parcels, at First Avenue and 89th Street, offer 88,000 square feet for residential development, the source said.
Most of the site had been set to become condominiums in 2008, before the economic downtown. In 2011, owner Uri Foxbrunner defaulted on mortgages for two of the properties — at 1711 and 1713 First Avenue — and sold the third, at 1715 First Avenue, to a limited liability corporation for $5 million. [more]