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Inwood site goes for twice what seller paid last year

The Arden Group has closed on its purchase of a 47,350-square-foot development site at the edge of a rezoned section of Inwood. The deal for 4650 Broadway closed earlier this week between Philadelphia-based Arden and Abraham Fructhandler’s FBE Limited for $ 54 million, according to a person familiar with the transaction. Arden did not immediately return a request for comment. A person who answered the phone at FBE’s office said she had no information. Capital Property

The Real Deal New York

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