Seth Levine & Frank Alessio Acquire Retail Property In Manhattan For $9.5M

The property involved in this transaction is a retail asset located at 92 Ludlow St. in Manhattan. It was sold for a price of $9,500,000. The property has a total square footage of 9,200, resulting in a price per square foot of $1,033.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $9,500,000
• Address: 92 Ludlow St.
• Market: Manhattan
• Buyer: Seth Levine & Frank Alessio
• Seller: Fairstead
• SF: 9,200
• PPSF: $1,033

Seth Levine & Frank Alessio, owners and operators of the Lower East Side establishment Hotel Chantelle, are the buyers in this transaction. They have purchased the real estate with the intention of extending a long-term lease and potentially expanding the venue using air rights.