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East Village

East Village
New York, NY 10002
East Village
The East Village is a neighborhood in downtown Manhattan, bounded by Broadway, 14th Street, Houston Street, and the East River. Like many other New York neighborhoods, it is the site of real estate development and gentrification that is reducing its population of artists and nightlife party people and increasing its population of families and upper middle class professionals. In the 1950s and 1960s, those artists, musicians, hippies, and students replaced the neighborhoods previous residents, working-class immigrant families. The Bowery, a street in the neighborhood once lined with flophouses ¾has been transformed along with rising real estate prices. Punk music venue CBGB, on The Bowery, closed and was replaced by upscale menÍs clothing boutique John Varvatos in 2007. Other vanguards of gentrification included the Cooper Square Hotel and Avalon Bowery Place. High-end condominiums, like the curvy Astor Place tower, replace walkup rental buildings. Alphabet City is a subsection of the East Village and derives its name from its single-letter names of the avenues that cross it, Avenues A, B, C, and D. -GB
  • Address East Village
  • neighborhood East Village
  • borough Manhattan
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  • Event Sales
  • Address Harlem and East Village portfolio
  • Neighborhood #VALUE!
  • Borough Manhattan
  • Price $ 225,000,000
  • Publication Date 05/01/2007
  • Event Date 03/22/2007
  • Party 2 Dawnay, Day Group
notes
The London-based financial and property group bought 47 buildings in East Harlem and seven condo units in the East Village for $225 million, 13 times the gross rent roll. The Harlem properties are located between East 100th and East 120th streets, and the portfolio also includes 58 commercial units.
  • Event Sales
  • Address East Village portfolio
  • Neighborhood #VALUE!
  • Borough Manhattan
  • Price $ 97,500,000
  • Price per foot $ 376,000.00
notes
The 17-building portfolio sold for $97.5 million, or $376,000 per unit. Extell had purchased the portfolio for $72 million just 18 months earlier.
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