(Read more on the multifamily market.)
NEW YORK CITY-A four-story townhouse, built in 1851, now divided into five units at 38 Grove St. in Manhattan's West Village, was sold in all-cash transaction valued at $6.9 million. The seller was Eleanor Keogh, a source close to the deal reveals to GlobeSt.com.
The 21- by 55-foot property, built by Linus Scudder, is located on the south side of Grove Street between Bedford and Bleecker Streets. The five units are made up of floor-thru apartments on the first three floors and two apartments on the top floor.
The property contains approximately 4,675 and maintains original detail throughout including 11 working fireplaces. It was delivered vacant.
The source tells GlobeSt.com that the seller decided to sell because at almost $1,500 per sf, the price was right. The buyer, the source explains, was Manhattan-based George Agiovlasitis, who intends to restore it back to a single-family property.
"The buyer has already begun doing extensive research on various methods to do this to accurately restore it back to its original detail," notes Massey Knakal Realty Services' partner and managing director James Nelson, who exclusively represented the seller. Massey Knakal Realty Services and Sara Gelbard of The Corcoran Group were the brokers in this transaction.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
