Chetrit family plans colossal resi project in Washington Heights

Developer is in contract to buy 622-628 West 153rd Street for $30M

TRD New York /
Mar.March 04, 2020 02:30 PM
622-628 West 153rd Street (Credit: Google Maps)

622-628 West 153rd Street (Credit: Google Maps)

The Chetrit family is buying a Washington Heights development site with plans to construct one of the tallest residential buildings in the neighborhood.

Brothers Eli and Isaac Chetrit, along with their frequent development partner Jacob Aini, are in contract to buy 622-628 West 153rd Street for $30 million, according to sources familiar with the deal. The partners intend to build a 28-story, 135,000-square-foot luxury residential project on the site, and hope to start construction in a few months.

There was no broker on the deal, sources said.

The Chetrits declined to comment on the deal, and Aini could not be reached for comment.

The seller of the development site was unclear. City databases and PropertyShark did not have any title records for the address.

The Chetrits have been very active in the real estate market lately, although the family has been selling more than buying. They reached an agreement to sell 15 West 47th Street in the Diamond District to the ELO Organization in February for $115 million, and they closed the sale of 145 West 45th Street to the Hematian family in November for $92 million. Avi Ben-Ishay brokered both of those deals.

Washington Heights has not seen a particularly large influx of new development in recent years, although the neighborhood is home to a handful of major projects. Youngwoo & Associates is building a 22-story mixed-use development at 2420 Amsterdam Avenue and HAP Investments is putting up a 129-unit mixed-use project at 4452 Broadway.


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Here’s what the $10M-$30M NYC investment sales market looked like last week
Nightingale's Elie Schwartz and Madison's Brian Shatz (Whale Square)

Nightingale buys Whale Square in Sunset Park for $84M

Nightingale buys Whale Square in Sunset Park for $84M
Gov. Andrew Cuomo (Getty, iStock)

New York lost $755M in real estate tax revenue this year: REBNY

New York lost $755M in real estate tax revenue this year: REBNY
41 Haight Street in Flushing and 1290 Viele Avenue in Bronx (Google Maps; iStock)

Deal for pizza-pan manufacturer rounds out last week’s mid-market sales

Deal for pizza-pan manufacturer rounds out last week’s mid-market sales
Right to left: 831, 835 and 837 Madison Avenue (Google Maps)

Madison Avenue retail buildings sell for record low price

Madison Avenue retail buildings sell for record low price
Milton Glaser and 207 East 32nd Street (Getty, Google Maps)

Milton Glaser’s Kips Bay office townhouse sells to New York Review of Books

Milton Glaser’s Kips Bay office townhouse sells to New York Review of Books
522 Fifth Avenue and 1375 Broadway (Google Maps)

Manhattan CRE deals hit lows not seen since 2009

Manhattan CRE deals hit lows not seen since 2009
Thomson Reuters CEO  Steve Hasker and 3 Times Square (Getty; Google Maps)

Thomson Reuters looks to sell stake in Times Square HQ

Thomson Reuters looks to sell stake in Times Square HQ
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...