Israeli real estate investment and development firm Minrav Development has completed a $64 million purchase of a site in Manhattan's Kips Bay neighborhood.
Per The Real Deal, the development site — located at 368 Third Ave. — consists of 116,000 buildable square feet and calls for a 34-story, 103-unit residential tower.
The property costs about $550 per buildable square foot and is currently vacant.
On the sell side of the transaction are Itzhaki Properties and Continental Ventures. The two…
