A six-story Lower East Side walk-up, known as the Mayflower, has sold in a heated bidding war for $11.3 million to a Long Island investor, the New York Observer reported. Massey Knakal arranged auction of the 21,309-square-foot mixed-use building, located at 221-223 East Broadway on the southeast corner of East Broadway and Clinton Street, on behalf of Red Brick Properties. Just a block south of the Seward Park Mixed-Use Development Project, Red Brick plans to hold the Beaux-Arts building and eventual transition its affordable housing units to market-rate rentals. … [more]
Posts Tagged ‘michael decheser’
A vacant lot located at 79 Eldridge Street between Grand and Hester streets has hit the market for $4.55 million, Bowery Boogie reported — noting that small vacant lots like this one are increasingly being sold in the area. [more]
A stalled condominium project at 290 Mulberry Street is slated to be revived as a rental building, after being purchased by a mystery buyer for $25 million, Crain’s reported.
The 12-story building, opposite to the Puck Building on Houston Street, was initially conceived as a condo with eight full-floor apartments and a shared 2,600-square-foot terrace by former owner Cardinal Real Estate Investments, said Michael DeCheser, director of sales at Massey Knakal Realty Services, which marketed the building in the spring. However, the new owners have decided to change course.
“I’m told it will be finished as a rental,” DeCheser said. … [more]