Alfred Sabet's Sabet Group Acquires Residential Property In Manhattan's EV For $23,250,000

Located at 236 E. 5th St. in the East Village neighborhood, this residential property was recently sold for a hefty price of $23,250,000. The transaction took place on February 5th, 2019. The property spans across 25,024 square feet, resulting in a price per square foot of $929.

Summary of transaction details

• Property Type: Residential
• Transaction Amount: $23,250,000
• Address: 236 E. 5th St.
• Market: East Village

Alfred Sabet of the Sabet Group acquired the property from Renaissance Properties, owned by the Fishel Family. The Fishel Family's company, Renaissance Properties, has a rich history, starting in the 1960s by Bernard Fishel, a World War II colonel. The family has made significant philanthropic efforts, supporting organizations such as the Center of Jewish Life and the Samuel Waxman Center Research Foundation. Besides the property in question, Renaissance Properties also owns several other properties in Manhattan, including 627 and 632 Broadway in Soho, 264 West 40th (a boutique office building), 227 Waverly Place, 75 Macdonough, and recently sold 35 Bedford Street in the West Village to Benchmark. They also own 136 and 150 Prospect Park West in Brooklyn.

The transaction was facilitated by Aaron Jungreis of Rosewood Realty Group NY, who represented both the buyer, Alfred Sabet, and the seller, Renaissance Properties.