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

159 Bowery
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This MultiFamily property located in NY was sold for $5,000,000 almost 4 years ago. The brokers of the deal were Michael Decheser, Bryan Hurley, Andrew Berry, and Charlie Gravina

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.

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Deals
  • Location
    159 Bowery, New York, NY 10002, USA159 Bowery, New York, NY 10002, USA
  • Sale Price
    $5,000,000$5,000,000
    $117 PPSF$117 PPSF
  • Area
    42,520 SF42,520 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 1 Agency4 Brokers, 1 Agency

Agents

Charlie Gravina

Charlie Gravina

Deals15
Sold$164.8M

Agency

Cushman & Wakefield

Cushman & Wakefield

Agency
Deals4190
Volume$167B

Deal Summary

IMAGE: Barry Lipsitz (@BarryAlbert) DATE: 05/21/2020 ADDRESS: 159 Bowery MARKET: Lower East Side ASSET TYPE: Multifamily SALE PRICE: $5,000,000 SF: 4,252 PPSF: $1,175 BSF: 10,440 PPBSF: $478 SELLER: Brian Faerman BUYER: Barry Lipsitz @LipsitzPropertyGroup BROKERS: Cushman & Wakefield – Andrew Berry (@ATBerry3) , Michael DeCheser, Bryan Hurley & Charlie Gravina NOTE: Faerman family has owned […]

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