Tuesday, April 10, 2018

A reminder of the development to come at 24 1st Ave. and 99-191 E. 2nd St.

These "sold" development site banners went up yesterday at 24 First Ave. ... and on its sister property at 99-101 E. Second St. ...

As reported late last month, Sergey Rybak of the South Brooklyn-based Rybak Development was the winning bidder during an auction in February. According to EPIC Commercial Realty, who represented the buyer and the seller, the winning bid was $12.25 million.

So far there's nothing new on file with the DOB for the addresses. The property can be developed with or without the inclusionary housing air rights, providing between an additional 19,000 and 22,000 square feet. No word yet about what Rybeck plans to do with the L-shaped assemblage.

Previously on EV Grieve:
Onetime home of Lucky Cheng's and adjacent property on the development market for $26 million

Building that housed Lucky Cheng's on 1st Avenue now on the auction block

Onetime home of Lucky Cheng's and adjacent property sell for $12 million

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