Firm Acquires Seven Unsold Co-Op Units in Hell’s Kitchen Including Two Vacant Units

JAMES Development Corporation (JAMES Development) announced today that the firm has acquired seven prewar coop units at 436-438 West 47th Street in Manhattan’s Hell’s Kitchen Neighborhood. The JAMES Development team has continued to acquire unsold co-cop and condominium units throughout the City, especially during the Covid health crisis, based on its ability to move quickly and find value in available residential real estate throughout the region. Of the seven units acquired this week, two of the units are vacant and will likely be sold quickly by the firm.

As one of the largest holders of unsold units in Manhattan condominiums and co-ops, JAMES Development currently owns and manages hundreds of residential apartments throughout the tri-state area. The current JAMES Development portfolio includes many landmarked historical buildings, high-end luxury condominiums, and buildings designed by renowned architects. The firm’s properties are well-located in prestigious, sought-after neighborhoods further strengthening the team’s ability to leverage its ability to reposition and resell these properties.

The latest purchase was led by Emily Zanger, Senior Vice President of Acquisitions, who noted, “this recent acquisition is one of a number of ongoing acquisitions of highly valuable residential assets that our team has identified and that will be quickly brought to market for resale by our firm. Based on our agility and unique ability to identify value in a tumultuous residential market, our firm offers great value for co-op and condo developers and residential owners who are sitting with excess inventory.”

The JAMES Development team has worked with countless residential developers and owners throughout the tri-state area and is committed to the future of New York estate. The firm is well known for its ability to purchase and improve residential properties, often without the need for bank financing and have remained one of the top purchasers of unsold residential units for over 25 years. Currently, the JAMES team is seeking additional unsold condominium units throughout the region.

About JAMES Development

JAMES Development Corporation is a Manhattan-based real estate investment company established in 1993. The firm’s expertise includes a broad range of real estate disciplines, including investment, development, renovation and asset management across New York City and its neighboring communities. For more information, visit jdcny.com.