Lightstone Group Acquires Lower East Side Dev. Site For $57M From Seller Emmut Properties And Brokers Friedman Roth

A development site located at 151-153 Bowery and 331-337 Broome Street in the Lower East Side has been sold for a price of $57,000,000. The property consists of approximately 75,000 square feet, with a price per buildable square foot of $760. The seller of the site was Emmut Properties, and the buyer was Lightstone Group.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $57,000,000
• Address: 151-153 Bowery and 331-337 Broome Street
• Market: Lower East Side
• Buildable Square Footage: 75,000
• Price Per Buildable Square Foot: $760

The transaction was facilitated by brokers Richard Guarino and Marc Hershberg from Friedman Roth. They represented both the buyer, Lightstone Group, and the seller, Emmut Properties.