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Isaac Chetrit and Ray Yadidi Buying Himmel + Meringoff Air Rights?

New York

Himmel + Meringoff Properties is in negotiations to sell 235k SF of air rights attached to 1352-1362 Broadway to Isaac Chetrit and Ray Yadidi. Himmel + Meringoff once owned the building, but sold it in 2001, retaining the air rights.

The sale of the air rights would help Chetrit and Yadidi reach about 375k SF in development rights for an assemblage they’re working on putting together, which includes a single-story retail building at 993 Sixth Ave, which adjoins the property attached to the air rights.

No price for those rights has been disclosed. Chetrit and Yadidi also own another adjoining property, a 21-story office building at 989-991 Sixth Ave, according to The Real Deal. If and when the air rights are used, they could go toward development on either side of Sixth Avenue. [TRD]