Restauranteur Pays $7M for Townhouse

A restauranteur paid $7.25 million for a townhouse in 27 E. 20th St., in Manhattan’s Flatiron District. The four-story townhouse includes a total of 6,624 square feet of space.

“The space will be ideal for the restaurateur who bought it… The mixed-use building at 27 E. 20th St. is a fantastic location for a restaurant,” said Jonathan Schwartz of Eastern Consolidated, who represented Silvershore Properties, the seller in the transaction. Adelaide Polsinelli and Mitchell Goldstick of Eastern Consolidated represented the buyer.

The deal is part of a trend of restaurant and retail businesses buying real estate. “They see ownership as a way to gain flexibility and control over their income and future,” said Polsinelli.

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