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Septet of MXUs Goes on the Block
Avison Young’s Tri-State Investment Sales group has been named the exclusive sales agent for seven fully-leased, mixed-use properties in Downtown’s NoLita, Two Bridges and Lower East Side neighborhoods. The asking price is $72 million for the portfolio.
The TSIS group led by principal James Nelson, along with director Brandon Polakoff and associates Philip Bowman and Bradley Rothschild, is representing the owner.
The properties at 247 Broome St., 5 Spring St., 259 East Broadway, 21-23 Catherine St. and 40-42 Market St. total 71,356 square feet, with 100 residential units and 12 retail ground-floor retail units. Of the 100 residential units, 31 are free-market, 39 are rent-stabilized, six are rent-controlled and the remaining 24 will become deregulated when the current tenants vacate.
All seven properties are located near subway lines, and are in contiguous neighborhoods, allowing for management efficiency.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
