Rybak Development Acquires Upper East Side Development Site for $26M

Rybak Development has acquired a development site in the Upper East Side for 26M. The site, located at 126 E 86th St., is a C5-1A zoned lot with a lot size of 51.11 ft x 102.17 ft. The property has a buildable square footage of 52,210 and a price per square foot of 498.

The seller of the property has not been disclosed.

Rybak Development is a New York-based real estate development firm led by Sergey Rybak. The firm has developed a number of residential and commercial properties throughout New York City.

The deal was brokered by James Nelson, Alexandra Marolda, Erik Edeen, and Marty Cottingham of Avison Young. Nelson, Marolda, Edeen, and Cottingham are all experienced brokers in the New York City commercial real estate market.

The Upper East Side is a highly desirable neighborhood in Manhattan, known for its luxury residential buildings, high-end retail, and cultural institutions. The area has seen a number of new developments in recent years, including luxury condominiums and high-end retail spaces.

The acquisition of this development site by Rybak Development is a sign of continued interest in the Upper East Side real estate market. The property’s location and zoning make it an attractive investment opportunity for a developer looking to build a new residential or commercial building in the area.

Overall, the acquisition of this development site by Rybak Development is a significant transaction in the New York City commercial real estate market. The Upper East Side is a highly desirable neighborhood, and the property’s location and zoning make it an attractive investment opportunity for a developer looking to build a new residential or commercial building in the area.