Premier Equities sells retail condos for $20M

Queens-based investor Athena Vrettos picks up properties in East Village, Tribeca

TRD New York /
Jul.July 18, 2018 02:30 PM

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.


Related Articles

arrow_forward_ios
28 Liberty Street (Wikipedia)

Manhattan’s office leasing sees busiest month since January

Manhattan’s office leasing sees busiest month since January
Maison Kayser (Photo via Tools of Men via Flickr)

Maison Kayser may bid New York adieu

Maison Kayser may bid New York adieu
Newmark’s Brian Waterman with 7 Hanover Square (Google Maps, Twitter)

Newmark nabs REBNY prize for deal with NYC Health + Hospitals

Newmark nabs REBNY prize for deal with NYC Health + Hospitals
The legislation from a City Council member introduced a bill to temporarily repeal the commercial rent tax for businesses during the Covid-19 state of emergency. (Getty, iStock)

Commercial rent tax cut introduced in City Council

Commercial rent tax cut introduced in City Council
Michael Rudder, James Nelson, 141 Wooster Street and 633 Third Avenue (Google Maps)

The Outlook: Industry experts break down Manhattan’s office condo market

The Outlook: Industry experts break down Manhattan’s office condo market
Peter Nicoletti and Colliers' David Amsterdam

Colliers taps JLL’s Peter Nicoletti to lead capital markets

Colliers taps JLL’s Peter Nicoletti to lead capital markets
City Council member Keith Powers (Getty)

Pol, biz groups: Suspend rent tax, extend outdoor dining

Pol, biz groups: Suspend rent tax, extend outdoor dining
Only 9 percent of workers had returned to Midtown and 8 percent to Downtown. (iStock)

Where is everybody? City workers still home

Where is everybody? City workers still home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...