The Real Deal New York

Fredrik Eklund closes $28M deal in LES

The development site sold for a record $700 per buildable square foot
September 06, 2014 12:00PM

A development site in the Lower East Side has sold for $28 million, or $700 per buildable square foot, which is a record for the neighborhood, according to listing broker Fredrik Eklund.

According to Eklund, contracts were signed yesterday.

“I have been working on this almost 40-unit development…for over a year, perfecting the layout, unit mix, the finishes, all of it,” Eklund posted on Instagram. “This is one transaction I am proud of and my team is definitely having a record week.”

According to Streeteasy, the site last sold for $2 million. –Christopher Cameron