search

The Real Deal Logo

Trending

Housing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsHow Hochul played the “good cause eviction” game, and wonHow Hochul played the “good cause eviction” game, and wonTides Equities faces three foreclosures in Fort WorthTides Equities faces three foreclosures in Fort WorthLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
New York

AD Real Estate nabs Flatiron rental building for $30M

Milan Associates bought the 30K sf property in 2012 for $15M

Abraham Daniels
From left: Abraham Daniels and 9 East 16th Street in Flatiron

Great Neck-based A.D. Real Estate Investors added to its Manhattan portfolio with the purchase of a seven-story Flatiron rental building from Milan Associates.

The 30,000-square-foot property at 9 East 16th Street contains 15 loft units, 12 of which are market rate, according to Cushman & Wakefield, which represented both sides in the deal.

Sign Up for the undefined Newsletter

Milan bought the property in July 2012 for $15.3 million.

The building also houses a 4,300-square-foot retail space on the ground floor, which is currently home to Campeon, a Mexican restaurant and sportsbar, the Commercial Observer reported.

A.D., a multifamily investor headed by Abraham Daniels, owns and manages a handful of properties in the city, including a set of apartment buildings at 113-117 Elizabeth Street, which they bought for $26 million earlier this year. [NYO] – Ariel Stulberg

Tags
Cushman & Wakefield