The Building: The 9,490 SF property comprises of two adjacent buildings featuring eight (8) stories and a total of ten (10) units (8 Residential, 2 Retail, including Mulberry Street Cigars as one of the retail tenants). The zoning (C7) allows for mixed residential and commercial use. Originally built in ~1900, the building underwent extensive renovations in 1984.
The Plans: According to Kings Capital RE, this is the fourth property they have acquired post-pandemic. They have stated on their social media that they intend to renovate and reposition the property with the help of Elevated Interior Design.
Recently Featured: Last April, Fotis and Traynham also brokered the sale of a 5,029 SF retail property in SoHo for $10.4 million ($2,068 PPSF).
The Buyer: Kings Capital RE attributes its success to the combined experience of its partners which span real estate, design, and hospitality. Kings Capital RE aims to provide underserved communities with a luxurious, nuanced Manhattan aesthetic at an affordable price point. Contact info below:
The Seller: Antonio Rizzo and Joseph Rizzo
Deal History: This sale marks the first time the property has changed hands in over 70 years.