Chetrit family plans colossal resi project in Washington Heights

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

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.


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