Barry Lipsitz Acquires Multifamily Property In Lower East Side For $5M

A multifamily property located at 159 Bowery in the Lower East Side has been sold for a price of $5,000,000. The property spans over 4,252 square feet and has a price per square foot of $1,175. The building has a total area of 10,440 square feet, resulting in a price per buildable square foot of $478.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $5,000,000
• Address: 159 Bowery
• Market: Lower East Side

The seller of the property is Brian Faerman. The buyer is Barry Lipsitz from Lipsitz Property Group. The transaction was facilitated by the brokers from Cushman & Wakefield, namely Andrew Berry, Michael DeCheser, Bryan Hurley, and Charlie Gravina.

It is worth noting that the Faerman family has owned the property for an undisclosed period of time.