Developer Closes on Site of Forthcoming Residential Project at 242 East 71st Street on Manhattan’s Upper East Side
Avdoo & Partners Development announced the closing of 242 East 71st Street, the site of a forthcoming residential project in the Lenox Hill section of Manhattan’s Upper East Side. The developer secured the assemblage, which consists of four low-rise buildings from 1341-1347 Second Avenue as well as the titular property at 242 East 71st Street, for $52 million with a loan provided by Valley Bank. The nearly 10,000-square-foot lot is located at the corner of Second Avenue and East 71st Street.