Nesor Associates Sells East Village & Hells Kitchen Mixed-Use Portfolio For $13.5M

A three-building portfolio in the East Village and Hell's Kitchen neighborhood has been sold for a total of $13,500,000. The properties included in the transaction are located at 14 1st Avenue, 445 West 46th Street, and 219 East 5th Street. This mixed-use asset consists of 50 apartments and two retail spaces, one of which is the popular restaurant "Lucien" situated at 14 1st Avenue. The sale marks the first transaction involving these properties in over 45 years. The total square footage of the portfolio is 33,490, resulting in a price per square foot of $403.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $13,500,000
• Address: 14 1st Avenue, 445 West 46th Street, and 219 East 5th Street
• Market: East Village & Hell's Kitchen
• Seller: Nesor Associates
• Seller's Brokers: Michael Ferrara & Alan Stenson - Brax Realty
• Total Square Footage: 33,490
• Price per Square Foot: $403

Brax Realty represented the seller, Nesor Associates, and facilitated the transaction. Michael Ferrara and Alan Stenson from Brax Realty served as the seller's brokers, overseeing the deal. They were responsible for exclusively representing the seller and finding the buyer for this unique three-building portfolio. This successful transaction demonstrates their expertise in the real estate market.