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New York & Tri-State  + Downtown New York  + Apartments  | 
Brax Realty closed the sale of apartment properties in Manhattan's East Village and Hell's Kitchen for $13.5 million

$14M Buys Three-Building Portfolio in East Village, Hell’s Kitchen 

Brax Realty arranged the sale of a three -building package located in the East Village and Hell’s Kitchen neighborhoods of Manhattan. The properties at 14 First Ave., 219 E. 5th St. and 445 W. 46th St. sold collectively for $13,500,000.  

Michael Ferra and Alan Stenson of Brax Realty represented the seller, Nesor Associates, and also procured the buyer, a private investor. It was the first time these buildings have changed hands in more than 45 years. 

The three-building portfolio consisted of 50 apartments and two retail units with a total of approximately 33,490 square feet. All three buildings were walk-up properties and the package included an additional 15,309 square feet of available air rights. The properties were 94% occupied upon sale. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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