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Little Italy Mixed-Use Commands Premium in Sale
Cushman & Wakefield arranged the sale of 128 Mulberry St., a 4,800-square-foot mixed-use property in Lower Manhattan’s Little Italy neighborhood. The final closing price was $9,780,000, or approximately $2,035 per square foot.
Cushman & Wakefield’s Maurice Suede, Robert Burton, Bobby Carrozzo and Dan Soyak represented the seller, Assa Properties. The building sold to Yukah LLC, advised by Charlotte Cheung of the Ariel Group.
“128 Mulberry sold for 52% higher than the average price per square foot for multifamily properties in SoHo,” said Suede. “My team’s hard work really paid off, as we were able to sell the property within three months of initiating marketing efforts.”
A seven story, mixed-use multifamily building at the corner of Mulberry and Hester streets, 128 Mulberry is currently fully occupied. It includes five free-market apartments and one retail unit, the latter occupied by Little Italy Famous Gift Shops in a lease running through 2024.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
