UPDATED, 3:00 p.m., August 25: An in-progress mixed-use development that is being constructed on top of a five-story East Harlem school popped up in a $22.5 million StreetEasy listing today, but the developer says the site is not for sale.
The listing for the former P.S. 85 at 2269 First Avenue at 117th Street, which according to StreetEasy was in the hands of LREB’s Darryl White, was posted without the developer’s authorization, Acuity Capital Partners’ Elliot Neumann told The Real Deal.
“We get calls about the property every day of the week, and brokers say, ‘will you sell it?’ And we say that if someone offers us a ridiculous price, everything in our portfolio is for sale,” Neumann said. “But it is not actively for sale.”
The construction is still in an early enough phase that a buyer could diverge from the current plans, which call for a four-story addition to the existing five-story building, Curbed reported. Recent renderings by Isaac & Stern Architects showed a brick structure topped by a glassy corner. In total, the project would measure a total of 69,000 square feet and hold 90 apartments, with an additional 4,000 square feet of retail on the ground floor. The site has a total of 71,000 buildable square feet, Curbed reported. [Curbed] — Julie Strickland