HAP Investments LLC, a New York based international real estate investment and development company, is in contract to buy 247-249 East 117th Street. The seller is PGC New York 1 LLC.

247-249 East 117th Street is located on the north side of East 117th Street, between 2nd and 3rd Avenues in the East Harlem neighborhood of Northern Manhattan.

The site can accommodate a 12-story rental building with commercial and community facility space.

“We are excited to have purchased this strategic site in East Harlem and look forward to a future development that will provide new rental housing for local residents as well as others in the Greater New York City area,” said Eran Polack, CEO, HAP Investments.

Daniel Goldner Architects has been selected to design the building. Daniel Goldner Architects is an award winning Chelsea based architectural firm and responsible for the design of numerous commercial and residential projects throughout Manhattan, Brooklyn, and Queens.

The broker in the sale of the property was Robert Shapiro of Massey Knakal.

HAP Investments has been active in Upper Manhattan with properties including 419 East 117th Street, 2338 2nd Avenue, 329 Pleasant Avenue and 1655 Madison Avenue.