Investor Ari Zagdanski’s Kinsmen Property Group is the new owner of 62 and 64 Third Ave.
As the Commercial Observer reported yesterday, Zagdanski paid $23 million for the two four-floor buildings, which were owned by Jakobson Properties.
Per the Observer:
Zagdanski doesn’t have any immediate plans to redevelop the residential buildings, but said he was drawn to the neighborhood because of its new developments including the nearby Moxy Hotel.
“It’s a long-term play. Eventually, it will probably be developed into something,” [broker Itan] Rahmani said. “This is a corner that never really trades.”
No. 62 is currently vacant. There hasn't been much activity (except for the Brunch Theatre Company pop up) at the former home of the New York Central Art Supply, which closed in September 2016.
The Steinberg family, who operated the art supply store for three generations, cited "poor business conditions" as the primary reason behind the closure.
According to public records, the building sold for $9.3 million to an LLC in 2016 with an address of 62 Third Ave. However, a work permit from last year for a sidewalk bridge listed Jakobson Properties as the owner.
No. 64 on the southwest corner is a residential building with the Ainsworth as the retail tenant.
No. 64 was, a few years ago, prime ad space for the aspiring blockbusters of the day...
