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Sabet Group acquires 236 East 5th Street

Renaissance Properties sells another multi-family building for $23.25 million

236 East 5th Street in the East Village (Credit: Renaissance Properties)

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.

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