New York & Tri-State + Apartments | March 29, 2021

Newly Renovated Mixed-Use Trades in East Village

Avison Young closed the sale of 100 Second Ave., an eight-unit mixed-use asset located between East 5th and East 6th streets in the East Village. The property sold for $13,250,000.

The recently upgraded five-story property consists of one commercial space with an excavated lower level, six fair-market apartments, and one rent-stabilized apartment. An Avison Young team led by principal Brandon Polakoff represented the seller, Highpoint Property Group.

“The seller had purchased the East Village asset just before the onset of the pandemic and spent the last year completely renovating the building,” said Polakoff. “Avison Young quickly identified the perfect retail user that understood the value of this newly modernized property and we were able to complete the sale in a seamless fashion.”

The well-located property is a short walk to public transportation including multiple subway stations and is within close proximity of a variety of retail and restaurant offerings.

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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 13-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 15-20 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).