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East Village Mixed-Use Trades After 70 Years’ Family Ownership
Ariel Property Advisors finalized the $3.35-million sale of 109 E. 9th St., a five-story mixed-use building in Manhattan’s East Village. The sale was arranged by a team including EVPs Victor Sozio and Michael Tortorici, directors Howard Raber and Matthew Gillis and associate director Jack Moran.
Situated on the north side of East 9th Street between Third and Fourth avenues, the 6,260-square-foot property comprises 13 residential units and one retail unit, delivered vacant, which spans the entire ground floor and basement, as well as most of the second floor. It had been under family ownership for 70 years.
“This is the kind of dynamic, value-add neighborhood building that rarely becomes available in New York,” said Tortorici. “Having received a wide array of interest from both investors and owner-users, the sale of 109 E. 9th S. is indicative of a positive swing in momentum in New York’s commercial real estate market.”
- ◦Sale/Acquisition
