The Real Deal New York

Investor buys Flatiron resi building for $25M

Six-story property at 105 East 24th St. last traded hands in 1968
By Claire Moses | April 07, 2015 02:45PM

A 43-unit residential building in Flatiron traded hands for the first time in nearly 50 years for $25 million, according to property records filed with the city today.

Private investor Paul Sohayegh — who could not be reached on Tuesday afternoon and whose LinkedIn profile says he’s “self employed” — bought the six-story building at 105 East 24th Street from Martin Riskin, who has owned it since the late 1960s.

The property is located directly next to Sam Chang’s 13-story hotel project at 111 East 24th Street.

In 2010, CW Capital Asset Management filed a foreclosure suit against Sohayegh for allegedly defaulting on a roughly $29 million mortgage loan at a 12-story office building at 29 West 35th Street, as The Real Deal reported.