FREO U.S. Management Acquires Mixed-Use Property On Lower East Side For $19.25M

An office and residential mixed-use property located at 165 Eldridge St. in the Lower East Side has been sold for $19,250,000. The transaction took place on 05/13/2022. The property spans a total of 32,700 square feet, resulting in a price per square foot of $589. The buyer, FREO U.S. Management represented by Meng Lee and Karim Elsayyad, acquired the property from School Yard Enterprises, with Greg Kourakos as the seller.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $19,250,000
• Date: 05/13/2022
• Address: 165 Eldridge St.
• Market: Lower East Side
• Buyer: FREO U.S. Management - Meng Lee & Karim Elsayyad
• Seller: School Yard Enterprises - Greg Kourakos
• Buyer's Representatives: Robert Khodadadian, Daniel Shirazi, & Stephen Tang-Alcala - Skyline Properties
• Square Footage: 32,700
• Price per Square Foot: $589

The buyer of the property, FREO U.S. Management, was represented by their agents Robert Khodadadian, Daniel Shirazi, and Stephen Tang-Alcala from Skyline Properties. Their expertise and negotiation skills facilitated the successful acquisition of this mixed-use property in the Lower East Side market.