{"id":575842,"date":"2026-08-03T15:29:12","date_gmt":"2026-08-03T19:29:12","guid":{"rendered":"https:\/\/commercialobserver.com\/?p=575842"},"modified":"2026-08-04T12:04:19","modified_gmt":"2026-08-04T16:04:19","slug":"sale-500-columbus-avenue-terra-developers","status":"publish","type":"post","link":"https:\/\/commercialobserver.com\/2026\/08\/sale-500-columbus-avenue-terra-developers\/","title":{"rendered":"Mixed-Use Upper West Side Building Sells to Terra Developers for $28M"},"content":{"rendered":"

Brooklyn-based <\/span>Terra Developers<\/b> has made a $28 million residential redevelopment play for <\/span>500 Columbus Avenue<\/b> on Manhattan\u2019s Upper West Side.<\/span><\/p>\n

The 35,300-square-foot mixed-use building was sold to Terra by longtime owner <\/span>CKMR Corporation<\/b>, formerly Sloan\u2019s Supermarkets, according to <\/span>property records<\/span><\/a> filed Friday.\u00a0<\/span><\/p>\n

The property rises five stories at the northwest corner of West 84th Street and Columbus Avenue, just one block west of <\/span>Central Park<\/b>. Its ground-floor retail is anchored by a <\/span>Gristedes<\/b> supermarket, above which sits a dozen apartment units that have been vacant for 30 years, BKREA<\/strong>‘s <\/span>Bob<\/strong> Knakal<\/b>\u00a0told Commercial Observer. Knakal represented the seller alongside BKREA’s Jake Hulsh<\/strong>.<\/span><\/p>\n

Knakal said 500 Columbus Avenue\u2019s residential spaces are well positioned for conversion into condominiums. An additional vertical expansion upon the 10,217-square-foot corner lot is possible, according to the BKREA listing.<\/span><\/p>\n

Yevgeniy Lvovskiy<\/b>, CEO of<\/span> ZHL Group<\/b>, confirmed the purchase on behalf of Terra, but did not disclose Terra\u2019s plans for the site. The transaction was financed by a $25 million loan arranged by Newmark<\/strong>‘s Max Ralby<\/strong>, Holden Witkoff<\/strong>, Niv Shahmoon<\/strong> and Dante DiStefano<\/strong> with Derby Copeland<\/strong>.<\/span><\/p>\n

ZHL previously represented Terra and other investment partners in the <\/span>$27.6 million purchase<\/span><\/a> of a Long Island City, Queens, redevelopment site in 2024.<\/span><\/p>\n

The building at 500 Columbus Avenue was last sold in the 1970s to an entity of Sloan’s Supermarkets, founded by the <\/span>Sloan<\/b> and <\/span>Meyer<\/b> families. CKMR now manages legacy assets across New York City. <\/span>Lucia Nuzzi-Meyer<\/b> served as CKMR\u2019s authorized signatory in the recent transaction. Representatives for CKMR could not immediately be reached for comment.<\/span><\/p>\n

Additional retail tenants at 500 Columbus Avenue include <\/span>Park West Laundromat<\/b> and a shoe repair shop.<\/span><\/p>\n

Emily Davis can be reached at <\/span><\/i>edavis@commercialobserver.com<\/span><\/i><\/a>.\u00a0<\/span><\/i><\/p>\n

This story has been updated to include BKREA’s Jake Hulsh as a broker for the seller.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Brooklyn-based Terra Developers has made a $28 million residential redevelopment play for 500 Columbus Avenue on Manhattan\u2019s Upper West Side. The 35,300-square-foot mixed-use building was sold to Terra by longtime owner CKMR Corporation, formerly Sloan\u2019s Supermarkets, according to property records filed Friday.\u00a0 The property rises five stories at the northwest corner of West 84th Street […]<\/p>\n","protected":false},"author":178000527,"featured_media":575927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"apple_news_api_created_at":"2026-08-03T19:29:21Z","apple_news_api_id":"2a0aa5ea-3ae1-4deb-9669-95804c396313","apple_news_api_modified_at":"2026-08-04T16:04:27Z","apple_news_api_revision":"AAAAAAAAAAAAAAAAAAAAAg==","apple_news_api_share_url":"https:\/\/apple.news\/AKgql6jrhTeuWaZWATDljEw","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"_ef_editorial_meta_paragraph_assignment":"","_ef_editorial_meta_date_first-draft-date":"","_ef_editorial_meta_checkbox_needs-photo":"","_ef_editorial_meta_number_word-count":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[231408,425196646],"tags":[598409133,598398718,598393745,598370781,598409141,598409132,598351551,598406296,598395098],"industry_type":[598394825],"company":[598393640,598409135,598388407,598409134,598359091,598405300,598395093],"market":[423636225,425197610,425197703],"sponsored":[],"coauthors":[598406253],"class_list":{"0":"post-575842","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-channel","8":"category-sales","9":"tag-500-columbus-avenue","10":"tag-bob-knakal","11":"tag-dante-distefano","12":"tag-holden-witkoff","13":"tag-jake-hulsh","14":"tag-lucia-nuzzi-meyer","15":"tag-max-ralby","16":"tag-niv-shahmoon","17":"tag-yevgeniy-lvovskiy","18":"industry_type-mixed-use","19":"observer_company-bkrea","20":"observer_company-ckmr-corporation","21":"observer_company-derby-copeland-capital","22":"observer_company-gristedes","23":"observer_company-newmark","24":"observer_company-terra-developers","25":"observer_company-zhl-group","26":"market-new-york-city","27":"market-manhattan","28":"market-upper-west-side"},"acf":{"alternative_og_image":""},"apple_news_notices":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/commercialobserver.com\/2026\/08\/sale-500-columbus-avenue-terra-developers\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Mixed-Use Upper West Side Building Sells to Terra Developers for $28M","url":"http:\/\/commercialobserver.com\/2026\/08\/sale-500-columbus-avenue-terra-developers\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/commercialobserver.com\/2026\/08\/sale-500-columbus-avenue-terra-developers\/"},"thumbnailUrl":"https:\/\/commercialobserver.com\/wp-content\/uploads\/sites\/3\/2026\/08\/Bob-Knakal-Jake-Hulsh-500-Columbus-Ave-credit-Propertyshark.jpg?quality=80&w=150","image":{"@type":"ImageObject","url":"https:\/\/commercialobserver.com\/wp-content\/uploads\/sites\/3\/2026\/08\/Bob-Knakal-Jake-Hulsh-500-Columbus-Ave-credit-Propertyshark.jpg?quality=80"},"articleSection":"Investments & Sales","author":[{"@type":"Person","name":"Emily Davis"}],"creator":["Emily Davis"],"publisher":{"@type":"Organization","name":"Commercial Observer","logo":""},"keywords":["500 columbus avenue","bob knakal","dante distefano","holden witkoff","jake hulsh","lucia nuzzi-meyer","max ralby","niv shahmoon","yevgeniy lvovskiy","investments & sales","channel","mixed-use","bkrea","ckmr corporation","derby copeland capital","gristedes","newmark","terra developers","zhl group","edavis","idurso","new york city","manhattan","upper west side"],"dateCreated":"2026-08-03T19:29:12Z","datePublished":"2026-08-03T19:29:12Z","dateModified":"2026-08-04T16:04:19Z"},"rendered":"