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$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.
- ◦Sale/Acquisition

