BRG Buys 321 East 22nd St. for $31M

NEW YORK CITY-Continuing its expansion into the Manhattan market, Long Island-based Benedict Realty Group LLC has snatched up 321 East 22^nd Street in Gramercy for $31 million, GlobeSt.com has learned. Under the deal, a source from the Great Neck, NY-based firm says in an e-mail that the company plans to renovate the lobby and common hallways of the 117-unit, mixed-use apartment building as part of the acquisition.

“We are very exited to add this building to our portfolio and to have worked with such as talented team on the seller’s side,” says Daniel Benedict, president of BRG, in a prepared statement. While the seller was not disclosed, the prior owner of the six-story elevator building is listed as Columbia 321 East 22nd, LLC, according to city records. Rents in the building range from $2,750 to $4,500, according to StreetEasy.com.