Horizon Group Acquires Industrial Building In Lower East Side, Manhattan From Ronald Tien

An industrial building located at 324 Broome Street in Manhattan's Lower East Side has been sold for $6.5 million. The property, with a total of 46 units, was purchased by David Marom's Horizon Group from Ronald Tien. The building spans 32,396 square feet and has a sale price per square foot of $200. The purchase price per unit amounts to $140,652, while the cost per buildable square foot is $510.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $6,470,000
• Address: 324 Broome Street
• Market: Lower East Side, Manhattan
• Buyer: David Marom - Horizon Group
• Seller: Ronald Tien
• Total Units: 46
• Sale Price per Unit (PPU): $140,652
• Building Square Footage (BSF): 32,396
• Price per Buildable Square Foot (PPBSF): $200
• Total Square Footage (SF): 12,696
• Price per Square Foot (PPSF): $510

David Marom's Horizon Group successfully acquired the industrial building located at 324 Broome Street in Manhattan's Lower East Side. The deal was facilitated by Horizon At Chrystie LLC, representing Horizon Group, and Ronald Tien, who conducted the transaction through Lintien Corporation. This acquisition marks another significant move for Horizon Group in the Lower East Side's industrial real estate market.