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
620 West 153rd Street (Credit: Google Maps)

Hamilton Heights development site led mid-market deals last week

Hamilton Heights development site led mid-market deals last week
Joseph Chetrit and 118 East 76th Street (Credit: Sylvain Gaboury/Patrick McMullan via Getty Images, Google Maps)

Joseph Chetrit’s townhouse sale led mid-market NYC deals last week

Joseph Chetrit’s townhouse sale led mid-market NYC deals last week
Jason Meister (Photo by Gonzalo Marroquin/Patrick McMullan via Getty Images)

Ackman-Ziff’s Jason Meister moves to new firm

Ackman-Ziff’s Jason Meister moves to new firm
120 Beach 26th Street (Credit: Google Maps)

Far Rockaway site hitting the market for $70M

Far Rockaway site hitting the market for $70M
Clockwise from the left: 200 East 95th Street, 150 East 45th Street and 52 Greene Street (Credit: StreetEasy; Google Maps)

Not quite dead: Trio of mid-market deals in NYC last week

Not quite dead: Trio of mid-market deals in NYC last week
From left: Yoron Cohen, Richard Baxter and Scott Latham (Credit: Linkedin)

Big shakeup at Colliers: Baxter, Cohen, Latham out

Big shakeup at Colliers: Baxter, Cohen, Latham out
Billy Macklowe (right) and David Welsh with renderings of 120 Fifth Avenue in Park Slope (Credit: Macklowe by Patrick McMullan/Patrick McMullan via Getty Images; Senlac Ridge Partners)

Billy Macklowe, David Welsh close on Brooklyn dev site buy

Billy Macklowe, David Welsh close on Brooklyn dev site buy
arrow_forward_ios

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

Loading...