Israeli developer Minrav acquires Kips Bay property site for $64 million


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…

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