The Real Deal New York

Abro buys 47-unit East Village resi building for $28M

Property split into two condos, but holds rental apartments
By Konrad Putzier | October 26, 2016 06:47PM


254 East 2nd Street in the East Village

Abro Management bought a seven-story East Village apartment building at 254 East 2nd Street from Charles Blaichman’s CB Developers for $28 million, property records filed Wednesday show.

The 47 rental apartments are housed in one of the 52,000-square-foot building’s two condominiums. The other is occupied by the nondenominational East Side Tabernacle Church. Rents in the building range from $2,200 per month for a studio apartment to $4,491 for a two-bedroom unit, according to StreetEasy. The building is rented out except for one unit.

Abro could not immediately be reached for comment.

Last month, Abro sold a 142-unit rental building in the Bronx to the Toronto-based Medallion Corporation for $25 million.