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

151-153 Bowery & 331-337 Broome Street
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This Development Site property located in NY was sold for $57,000,000 about 5 years ago. The brokers of the deal were Richard Guarino and Marc Hershberg

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.

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  • Location
    151-153 Bowery, Manhattan, New York, NY, USA151-153 Bowery, Manhattan, New York, NY, USA
  • Sale Price
    $57,000,000$57,000,000
    $760 PPSF$760 PPSF
  • Area
    75,000 SF75,000 SF
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Richard Guarino

Richard Guarino

Deals38
Sold$244.3M

Agency

Friedman-Roth Realty

Friedman-Roth Realty

Agency
Deals112
Volume$696.7M

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Deal Summary

SALE IMAGE: Richard Guarino, David Licthenstein and Marc Hershberg DATE: 12/04/2018 ADDRESS: 151-153 Bowery and 331-337 Broome Street MARKET: Lower East Side ASSET TYPE: Dev. Site PRICE: $57,000,000 BSF: 75,000 ~ PPBSF: $760 SELLER: Emmut Properties BUYER: Lightstone Group BROKERS: Richard Guarino & Marc Hershberg - Friedman Roth

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151-153 Bowery & 331-337 Broome Street

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