Pair of East Village Walk-Ups Fetches $10.9M

NEW YORK—A local investor has purchased a pair of contiguous five-story, walk-up apartment buildings comprised of 36 apartments and four ground-floor retail stores for $10.9 million. Situated in Manhattan’s East Village, the properties are located at 521-523 East 12th Street.

Eastern Consolidated Senior Director Adelaide Polsinelli represented the seller, a long-time owner, and procured the buyer in the all-cash sale. Samuel Silverman of Silverman Law represented the buyer, while David C. Wolinisky of Otterbourg, Steindler, Houston & Rosen PC acted on behalf of the seller.

The buildings are five-story walkups, each 25-ft wide, comprised of 20,000 sq. ft. The 36 apartments are a mix of one- and two-bedroom units.

In addition to its apartment component, the property includes four retail stores.

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