Sabet Group expands Downtown portfolio with East Village multifamily buy

Renaissance Properties is selling off another one of its downtown Manhattan buildings.

Alfred Sabet’s Sabet Group is purchasing 236 East 5th Street from the company for $23.25 million, according to sources familiar with the deal. The East Village residential building stands six stories tall and includes 30 units, and Renaissance had owned it since at least 1969, according to property records.

Aaron Jungries of Rosewood Realty Group brokered the deal.

Renaissance Properties also recently sold 35 Bedford Street in the West Village to Benchmark Real Estate Group for $21 million.

The Sabet Group purchased multiple residential buildings in the West Village in 2017 as well. The firm bought 321 West 11th Street from Alan Farber for $11.6 million and 63 Perry Street from the Ragone family for $18 million.