The Real Deal New York

LES apartment building owner tries for quick profit

Property on sale for $4.5 million more than purchase price earlier this year
December 05, 2013 03:28PM

Keller Williams Realty Empire, based in Brooklyn, is marketing a five-story building on the bustling Lower East Side for $13 million.

The 281 Grand Street property, purchased by Flushing-based LLC Jacob Re earlier this year for $8.5 million, includes eight large loft-style apartments ranging between 12,000 and 16,000 square feet, according to the listing. Ground-level retail totaling 23,000 square feet is also on offer, and the property includes basement storage.

The building neighbors 283-285 Grand Street, which was demolished following a fire that ripped through the building. [Lo Down]Julie Strickland