The Real Deal New York

Premier Equities sells retail condos for $20M

Queens-based investor Athena Vrettos picks up properties in East Village, Tribeca
By Rich Bockmann | July 18, 2018 02:30PM

From left: 13 First Avenue, Uzi Ben-Abraham, Yaron Jacobi, and 271 Church Street (Credit: Getty, Google Maps, and Premier Equities)

Premier Equities sold a pair of retail properties in the East Village and Tribeca to Queens-based investor Athena Vrettos for $20.1 million, sources told The Real Deal.

Premier, headed by founding partners Yaron Jacobi and Uzi Ben-Abraham, paid a total of $11.45 million between 2015 and 2017 to buy the retail condominiums at 13 First Avenue and 271 Church Street (also known as 90 Franklin Street), property records show.

Both retail properties are fully leased, and combined span 10,153 square feet. Tenants at 13 First Avenue, at the corner of First Street, include the bar Boilermaker, a juice bar and the Lazy Llama coffee shop.

Tenants at 271 Franklin include women’s athletic-apparel shop Sweaty Betty, cold-therapy center QuickCryo and the Tracy Anderson fitness studio.

Representatives for Premier and Vrettos could not be immediately reached for comment. Venture Capital PropertiesVickram Jambu, Chris Varjan and Itan Rahmani represented the seller and the buyer in the deal. The brokers declined to comment.

Vickram Jambu, Chris Varjan and Itan Rahmani

Premier Equities in March sold the retail condominium it owned in the Meatpacking District with Thor Equities to Union Investment, a subsidiary of Germany’s DZ Bank , for $87 million.

Vrettos owns small mixed-use properties primarily in the Sunnyside area of Queens.