Nine-Figure Sales
Commercial Observer
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Today brings a pair of major deals — one done and one in the works. The first involves nine apartment buildings in Manhattan’s East Village. The sales price there was $132 million. The other involves a pending deal for 225 acres in Northern Virginia entitled for 3 million square feet of mixed-use development.
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— Tom Acitelli, Deputy Editor
Nine East Village Buildings Trade in $132M Sale
Ryco Capital’s recent East Village buying spree was bigger than previously known. The Halegua family’s Jonis Realty handed nine multifamily buildings to Ryco on Second Avenue between St. Marks Place and East 10th Street for $132 million, according to a source with knowledge of the deal and property records. The deal includes a trio of buildings at the southeastern corner of St. Marks Place that traded for $29 million, as Commercial Observer previously reported. But the buying spree’s full scope came to light after a series of transactions signed the same day were made public this week.
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Developer Chuck Kuhn on Verge of Buying 225-Acre NoVA Development Site
A deal to buy a sprawling 225-acre site in Northern Virginia is on the cusp of reality. Local real estate mogul Chuck Kuhn, who is also founder and CEO of JK Moving Services, is under contract to acquire the Waterside development site from an affiliate of the Gudelsky Group for an as-yet undisclosed price, according to the Business Journal. The Waterside is in Loudoun County, Va., near the newly opened Innovation Center Silver Line Metro station, and it is currently entitled for 3 million square feet of mixed-use development. The property includes the Chantilly Crushed Stone quarry, which Gudelsky also owns. The Waterside property has a history of courting, and being courted, for big acquisition deals in recent years.
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