[chris08876]

Project: 1802 2nd Avenue

Merchants Hospitality has bought five buildings on the Upper East Side that it plans to co-develop into a luxurious Maplewood Senior Living facility, The Post has learned.

The 213,000-square-foot tower designed by Handel Architects will include gardens and an indoor pool.

The buildings at 1802, 1804-06, 1808 and 1810 Second Ave. and 303-305 E. 93rd St. were purchased for $111 million in an all-cash deal from five separate sellers.

Michael Besen and Rolfe Haas of Besen & Associates represented two of the sellers, while three dealt directly with Merchants. Ido Tzaidi of Epic Commercial Realty represented Maplewood.

This will be Maplewood’s first project in New York. The Westport, Conn.-based company operates senior residences in Connecticut, Massachusetts and Ohio.
Merchants, founded by Abraham Merchant and Richard Cohn, assembled the site over a two-year period for a condominium.

Last year, GEMS Academy net leased the site for a school, but the lease was terminated after it failed to fund its security deposit, court papers show. None of the parties could be reached for comment.

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http://nypost.com/2015/07/26/luxe-li...per-east-side/