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New condos coming to East 13th Street

Ivan Hakimian
Ivan Hakimian

The East Village is set to get two new condo developments. Bridgeton Holdings and Amirion Group have bought two parcels at 436 and 442 East 13th Street for $9.5 million. The sites allow for 26,000 s/f of new construction, and the investors are unsurprisingly thinking condos.

Ivan Hakimian of HPNY was involved in the off-market deal. The seller of the parcels, located between First Avenue and Avenue A, is a family owner.

Atit Jariwala, principal of Bridgeton Holdings, told Real Estate Weekly that the developers will build two six-story buildings with full-floor units. He added that they have secured construction financing, and work is expected to start in the summer.

“This was a rare opportunity to acquire two development sites in Manhattan’s most sought after neighborhood,” said Jariwala.  The developers plan to benefit from tight inventory and rising demand for “family-sized condos” in the neighborhood.  “We are bullish on the neighborhood and new developments will continue to make East Village a 24/7 destination,” said David Amirian, principal of Amirian Group.

Amirian Group is no stranger to the East Village, having just completed a 33-unit residential building at 316 East 3rd Street. The neighborhood is seeing a residential construction boom. Two blocks west of the site just sold, a partnership of SK Development, Ironstate Development Company and Charles Blaichman is developing an 82-unit condo building at 211 East 13th Street.

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