Kawa Capital Management Acquires Lower East Side Office Building For $33.5M

The office property located at 135 & 161 Bowery in the Lower East Side has been sold in a note sale transaction. The buyer, Kawa Capital Management, acquired the property from Sterling National Bank for a sale price of $33,500,000. The property has a total building square footage (BSF) of 31,776, with a price per BSF of $1,054. The total square footage (SF) of the property is 33,786, with a price per SF of $991. The property has a floor area ratio (FAR) of 5.62 and a lot size of 2,632 square feet. The alteration type 2 permits were issued on August 9, 2017, and the lot dimensions are 24.67 ft x 106.67 ft.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $33,500,000
• Market: Lower East Side
• Zoning: C6-1G
• Buyer: Kawa Capital Management
• Seller: Sterling National Bank

The note sale transaction of the office property at 135 & 161 Bowery involved key individuals and companies. The buyer, Kawa Capital Management, was represented by their broker named Jack L Kopnisky. The seller, Sterling National Bank, was represented by their broker as well, but no further details about their representative are available.