NEW YORK – May 1, 2014 – (RealEstateRama) — HAP Investments, a New York based international real estate investment and development company along with designer Karim Rashid announced today the ground breaking for 329 Pleasant Avenue, to be known as “HAP 5.”

The site is strategically located one block east of First Avenue and 117th Street in East Harlem, in one of the most rapidly transitioning neighborhoods in New York City. “HAP 5” will be comprised of an 8 story building, containing 20 apartments.


From Left to Right: Designer Karim Rashid, CEO, HAP Investments Eran Polack, HAP Investments Amir Hasid

“HAP 5 is destined to be a unique residential building and a great addition to this East Harlem neighborhood. We look forward to progress on construction and are excited to again partner with Karim Rashid on creating another premier New York City property,” said Eran Polack, CEO, HAP Investments.

The project is located in close proximity to CUNY’s Hunter College Silberman School of Social Work, leading commercial and entertainment centers, including Manhattan’s biggest shopping mall, trendy restaurants and coffee shops, some of the best preschools in Manhattan, the Robert F. Kennedy Bridge and the FDR highway.

HAP Investments has been very active in Upper Manhattan and the East Harlem areas with properties including: 419 East 117th Street, 247-249 East 117th Street, 2338 2nd Avenue, and 1655 Madison Avenue. In addition, the company purchased a major development site at 215-219 West 28th Street in New York City’s Chelsea neighborhood and now will develop 329 Pleasant Avenue. Most recently, HAP announced it is in contract to purchase a development site at Journal Square in Jersey City, New Jersey, to be known as “HAP Tower.”

About HAP Investments
HAP Investments is a New York City-based real estate investment group that specializes in the development of mid-sized residential and commercial properties. HAP works with private investors to create profitable investment opportunities that have a strong prospect for long term upside profits. Formed by longtime Partners and entrepreneurs Eran Polack, Amir Hasid and Nir Amsel, the HAP team brings together a skilled group of businessmen with broad experience in the global real estate markets, property development, real estate finance and law.

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