David Burris, Investor Group Buy Mixed-Use Upper East Side Site for $28M
Why this matters
Mixed-use is where the most interesting urban repositioning is happening. Office-to-residential conversions in Manhattan, Washington, and Philadelphia have moved from pro-forma exercises to closed transactions, and walkable suburban densification is drawing patient capital with longer hold periods than the traditional core or value-add fund structures support. New York continues to bifurcate sharply: trophy office leasing at record rents, commodity Class B in conversion discussions or court-supervised processes. Rent-stabilized multifamily remains supply-constrained and tightly held. For allocators, mixed-use offers exposure to multiple property types within a single basis, which has become attractive as monoline sector forecasts have widened.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 259th New York story tracked on the wire in September 2026. All New York coverage →
- Disclosed mixed use deal value tracked in September 2026: $678.5M across 5 reported transactions. All Mixed Use coverage →
Computed from Real Estate Trail’s own tracked coverage
Terra Holdings ’ David Burris and a group of investors have made a $28.1 million covered land play on Manhattan’s Upper East Side. The acquisitions secured three low-lying, pre-war buildings at the corner of Lexington…
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