The Dermot Co. and Rockwood Capital bought 250 E. Houston St. for about $100 million. Credit: Christian Garibaldi
NEW YORK CITY—Demonstrating the cache that has developed around the East Village, The Dermot Co. and Rockwood Capital jointly have acquired 250 E. Houston St. for approximately $100 million, with BBVA Compass as the lender for a loan amount of nearly $58 million.
That purchase price puts the per unit value at nearly $770,000 for each of the property's 130 apartments—comprised of studio, one- and two-bedroom units. The 13-story rental building also includes approximately 10,000 square feet of retail. The new ownership plans to initiate renovations to the building's units, common areas and systems, as well as add amenities.
The seller—the identity of whom was unidentified at press time—was represented in the transaction by a Holliday Fenoglio Fowler sales team of senior managing director Andrew Scandalios and managing directors Jeff Julien and Rob Hinckley. HFF's debt placement team representing the buyer was led by managing director Steven Klein and director Geoff Goldstein
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
