Eastern Consolidated senior director Ety Lee represented the seller, while Eastern's Azita Aghravi, senior director, procured the buyer. Paul Nigido was the analyst in the transaction. Attorneys in the transaction included Nesenoff & Miltenberg LLP, who acted for the buyer, while Akabas & Sproule represented the seller.
The portfolio of buildings situated at 315, 317, 319 and 321 Sixth Ave. offers a total of 4,800 sf of prime ground-floor retail space plus 13 decontrolled residential units. "Not surprisingly, this package sold swiftly at an amount commensurate with the very high prices investment properties are fetching in this frenzied market," says Lee, who added that the location definitely drove the sale.
Greenwich Village, a magnet for tourists, is highly sought-after because of its history, bohemian shops and trendy restaurants. "My client plans to upgrade the building and retain is as an income producing asset," says Aghravi.
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