Benchmark Real Estate Group Sells Mixed-Use Property In East Village For $14.6M

The mixed-use property located at 341 & 437 East 9th St. in East Village has been sold in a transaction completed on 06/24/2022. The buyer, Alex Jaehak, acquired the property from Benchmark Real Estate Group for a sale price of $14,600,000. The property consists of 36 units with an average price per unit of $405,555. The total square footage of the property is 14,370, with an average price per square foot of $1,016.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $14,600,000
• Units: 36
• Price per Unit: $405,555
• Total Square Footage: 14,370
• Price per Square Foot: $1,016

The deal was facilitated by the brokers Brandon Polakoff, Ryan McGuirl, David Shalom, Eric Karmitz, and Joe Moran from Avison Young, representing both the buyer and the seller.

Note from the broker: The property at 341 East 9th Street comprises 18 units with a price per square foot of $1,338. The property at 437 East 9th Street also includes 18 units and has a rent-stabilization rate of 56%.