[File photo of 58 St. Mark's Place]
Raphael Toledano's Brookhill Properties is in contract to sell two of his East Village buildings, according to The Real Deal.
Renaissance Realty Group, a Midwood-based investment firm led by Adir Cohen, is buying a pair of East Village properties at 221 East 10th Street and 58 St. Mark’s Place for $22.5 million. The sales would represent a sizable increase in value – from $2.95 million and $3.8 million in November 2015 to $10 million and $12.5 million respectively, according to sources and property records.
The controversial Toledano, who has been accused of allegedly harassing his tenants and other predatory practices, is reportedly selling other East Village properties. (The Real Deal noted this back in July.) This past Thursday, we noted that he also put 97 Second Ave on the sales block.
Hakata Hot Pot and Sushi Lounge, housed in the retail spaces at 58 St. Mark's Place between First Avenue and Second Avenue, closed at the end of February. In a message on Facebook, the owners said that they had lost their lease. (Hakata Hot Pot combined with sister restaurant Zen 6 the next block to the west at 31 St. Mark's Place.)
Both 58 St. Mark's Place and 221 E. 10th St., which is between First Avenue and Second Avenue, were among Toledano's properties reportedly tested for toxic levels of lead.
The Real Deal reports that Toledano likely isn't through dealing.
Toledano is looking to sell more of his East Village-centric holdings, including a portion of a separate 17-building, $97 million portfolio he bought from the Tabaks in September 2015. Market observers noted at the time that the price was an incredible bargain, though Toledano is also said to be over-leveraged.
Previously on EV Grieve:
Claim: Landlord of 444 E. 13th St. threatened 'to drop dynamite on the building'
Report: State investigating East Village landlord Raphael Toledano
Health Department to inspect Raphael Toledano's East Village properties for toxic levels of lead dust