Matt Fotis and Colton Traynham broker 140 Mulberry for $5.5M

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The Deal: 140 Mulberry Street, a mixed-use property located in Little Italy, New York sold for $5.5 million ($647 PPSF). Matthew Fotis and Colton Traynham of Marcus & Millichap brokered the deal.

The Location: 140 Mulberry Street is located in Little Italy, New York City. 

The Building: The 9,490 SF property comprises of two adjacent buildings featuring eight (8) stories and a total of ten (10) units (8 Residential, 2 Retail, including Mulberry Street Cigars as one of the retail tenants). The zoning (C7) allows for mixed residential and commercial use. Originally built in ~1900, the building underwent extensive renovations in 1984.

The Plans: According to Kings Capital RE, this is the fourth property they have acquired post-pandemic. They have stated on their social media that they intend to renovate and reposition the property with the help of Elevated Interior Design.

The Brokers: Matthew Fotis & Colton Traynham of Marcus & Millichap brokered the sale. 

The Buyer: Kings Capital RE attributes its success to the combined experience of its partners which span real estate, design, and hospitality. Kings Capital RE aims to provide underserved communities with a luxurious, nuanced Manhattan aesthetic at an affordable price point. Contact info below:

The Seller: Antonio Rizzo and Joseph Rizzo

Deal History: This sale marks the first time the property has changed hands in over 70 years. 


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