Sumaida + Khurana has closed its $65.2 million acquisition of two properties owned by grocery store magnate John Catsimatidis.
The two adjacent buildings are located at 609 West 56th Street and 823 11th Avenue near Hudson River Park. The deal closed almost three years after it went into contract.
The 823 11th Avenue property used to be Gristedes’ corporate headquarters. The company has since moved to 800 Third Avenue. Sumaida + Khurana is partnering with LENY to build a 400-foot tall residential property at the site. The building will be designed by Pritzker Prize winner Alavaro Siza.
At 609 West 56th Street, meanwhile, Sumaida + Khurana is looking to construct a 34-story condominium tower. The firm filed plans to build an 80-unit building at the site last year. The property will be designed by SLCE Architects.
Sumaida +Khurana, headed by Saif Sumaida and Amit Khuraina, is currently developing 300,000 s/f of ground-up residential projects in Manhattan, according to its website. It portfolio includes 152 Elizabeth Street in Nolita and 157 Hudson Street in Tribeca.