The 3 Lower East Side Walk-ups that Sold for $35M
Earlier this month, we reported that SMA Equities, the Long Island real estate firm with controversial history on the Lower East Side, sold a portfolio of its area properties.
SMA unloaded three tenement walk-ups to Daniel Fishman of GAIA Real Estate – 102 Norfolk Street, 177 Ludlow Street, and 99 Allen Street – for an aggregate sum of $34.73 million. Between them, the stock includes fifty-six residential units – most of them of the two- and three-bedroom variety – plus five retail spaces.
The trio of transactions, which closed at the beginning of June, recently hit the public record to reveal the sale price of each.
- 177 Ludlow Street – $10.45 million
- 102 Norfolk Street – $14.08 million
- 99 Allen Street – $10.2 million
SMA Equities upscaled each during its ownership tenure, oftentimes with embattled tenants caught in a crossfire of construction; especially in the case of 102 Norfolk.