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Press Releases

September 2nd 2010, 2044 Second Avenue

Dumann Realty successfully brokered a land deal at 2044 Second Avenue in East Harlem. The land consists of more than 14,000 gross square feet, asking was $1.5 million dollars, or around $108 psf. The buyer is the East Harlem Tutorial Program. When combined with their adjacent lots, they plan to build more than 65,000 square feet here, including their new home. The new building will be mixed use, made up of 30,000 square feet of commercial space, the other 35,000 square feet as rental apartments. There were no brokers other than Dumann Realty.

March 22nd 2010, 435 Amsterdam Avenue

Richard Du, President of Dumann Realty has successfully negotiated a 15 year lease for 435 Amsterdam Avenue, a corner space on West 81st Street, previously asking $250/ft. Dumann represented both the tenant, Spice, a well-known Thai Restaurant and the landlord, Mr. Jeff Baynon. The owner of Spice, Mr. Lam is an accomplished restaurateur with more than sixteen restaurants in New York City, three of which opened within the last year and are all corner spaces. Mr. Lam, known for building out each restaurant with its own unique theme, plans to open at least three more over the course of this year and vehemently believes that now is the best time for restaurants to be expanding. Landlord Mr. Baynon was also in the restaurant business, previously owning the well-known Hana Sushi and Carmine’s. He is now spending more than $5 million dollars to improve his building, adding a penthouse, new elevator and completely renovating all the apartments within.