Pair of Nolita buildings trade to local investors

TRD New York /
Jan.January 30, 2014 05:30 PM

Two mixed-use Nolita buildings have traded hands for a total of $13.6 million, The Real Deal has learned.

A seven-story apartment building with two retail spaces, at 167 Mott Street was sold to Great Neck, Long Island-based investor AD Real Estate Investors, confirmed a representative for GFI Realty Services, which represented the buyer.

The seller is an entity identified only as “Sophie Von Young Enterprise LLC,” per city records. The LLC was transferred the deed for the building, between Broome and Grand streets, for $0 in 2009.

GFI broker Shawn Sadaghati represented the buyer in the 1031-exchange, according to the rep for GFI.

Just down the street, 143 Grand Street, between Crosby and Lafayette streets, traded hands for $5.1 million. The four-story building has three residential lofts and an unoccupied restaurant space, GFI’s rep said. The buyer, Arik Lifshitz of East Village-based DSA Management, has also purchased the relevant air rights to renovate the entire building, city records show.

Lifshitz made headlines last year for flipping Barclays Center-adjacent properties to Joe Sitt. After buying the properties, at 525-541 Atlantic Avenue, for $10.93 million just two years before, he and partner Bennat Berger of BCB Properties sold them for $23 million, as The Real Deal reported.

The seller appears to be a Vichai Charalaivan, who bought the building for $1.8 million in 2004. Sadaghati represented both sides in the transaction.

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