Mixed-Used Community Sells in Manhattan
- Oct 14, 2016
New York—EPIC Commercial Realty has announced the sale of 153 East 26th Street, a mixed-use community in Manhattan. A.D. Real Estate Investors Inc. originally acquired the 15,800-square-foot asset in 2003 for $3 million, and recently sold it to HUBB NYC for $11.8 million, or approximately $747 per square foot.
The eight-story building is located in the Kips Bay neighborhood of Manhattan, on East 26th Street, between Third Avenue and Lexington Avenue. The property comprises 14 two- and three-bedroom apartments, and one retail unit on the ground floor. The property is in close proximity to the 28th St. train station and Madison Square Park.
Situated along the East River, Kips Bay offers convenient access to many of New York’s popular attractions, as well as to retail, dining and entertainment options. The neighborhood is home to NYC’s first micro-unit building, and to a variety of historic and contemporary high-rises.
Brokers Edan Cohen and Ofer Cohen of EPIC Commercial Realty represented both the buyer and the seller in the transaction.
Image courtesy of EPIC Commercial Realty