Wednesday, May 20, 2020

Colossal Project Planned for Washington Heights

The Chetrit family is buying a Washington Heights development site with plans to construct one of the tallest residential buildings in the neighborhood.

Brothers Eli and Isaac Chetrit, along with development partner Jacob Aini, are in contract to buy 622-628 West 153rd Street, a large parcel located between Broadway and Riverside Drive, for $30 million. 

The partners intend to build a 28-story, 135,000-square-foot luxury residential project on the site, and hope to start construction in a few months.

The Chetrit family has been very active in the real estate market lately, although selling more than buying. 

Washington Heights has not seen a particularly large influx of new development in recent years, although the neighborhood is home to a handful of major projects. 

The project will join a handful of other major developments on the horizon in the uptown neighborhood, including a 22-story hotel, office, and retail project at 2420 Amsterdam Avenue being developed by Youngwoo & Associates.

A seven-story, mixed-use development at 4452 Broadway is also planned by HAP Investments. The project will have 129 apartments with 30 percent of the units set aside as affordable housing and ground floor retail space.