Renaissance Properties sells another multi-family building for $23.25 million
The Sabet Group has acquired 236 East 5th Street in the East Village from Renaissance Properties for $23.25 million. The multi-family property spans 25,002 SF, and contains 30 apartments.
Sound Smart: Renaissance Properties sold 35 Bedford Street to Benchmark for $21 million. The West Village property spans 17,556 SF, and contains 33 units, plus ground floor retail space (2,340 SF). It traded at 16 times the rent roll, and an existing 3.8% cap rate, according to the NYTimes.