Hubb NYC, formerly Trevi Retail, buys Gotham Court for $29M

Music venue Cake Shop occupies ground floor of five-story walk-ups

Jun.June 22, 2015 12:00 PM

Hubb NYC, a retail real estate investment firm formerly known as Trevi Retail, picked up a Lower East Side rental complex for $29.1 million.

The sellers — a joint venture that includes principals from the Great Neck-based Jonis Realty as well as Four Winds Real Estate — bought the two-building property two years ago for $19.1 million, according to the Wall Street Journal.

Gotham Court, located at 152 Ludlow Street and 149-151 Essex Street and consistent of a townhouse with two duplex apartments and a seven-story rental building, hit the market last year for $35 million, as The Real Deal reported. Tijuana Picnic, a Mexican fusion restaurant, moved into the former location of the Laugh Lounge. Independent music venue the Cake Shop is also located in the building.

David Schneiderman and Joshua Landau founded Four Winds in 2012. Gotham Court was their first multifamily, fee-interest acquisition. [WSJ] — Claire Moses

Related Articles

Clockwise from the bottom: Judge Arthur Engoron, JDS Development’s Michael Stern, L&M’s Ron Moelis, Josh Siegel of Starrett with a rendering of Two Bridges (Credit: Twitter and Curbed NY)

Judge deals another blow to Two Bridges towers

One Manhattan Square’s adult treehouse (Credit: Extell)

Check out Gary Barnett’s “Adult treehouse” at One Manhattan Square

Essex Crossing

Inside the brand new Essex Crossing complex

261 Broome Street (Credit: iStock and Google Maps)

Tenant’s lawsuit: “Roaches swarmed my bagel!”

A rendering of 165 Broome Street (Credit: Handel Architects)

Nonprofit plans affordable housing development near Essex Crossing

From left: 249 Broome Street, 135-145 West Kingsbridge Road, and 1975 Madison Avenue with Azimuth Development Group president Guido Subotovsky (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

242 Broome Street (Credit: Saul Metnick)

International Center of Photography closes on $29M space at Essex Crossing

The Lower East Side’s New Museum could get a $38M expansion

The Lower East Side’s New Museum could get a $38M expansion