Friday, November 20, 2015
Report: Icon Realty made 5x what it paid in sale of 2 East Village buildings
[326-328 E. 4th St.]
A South Carolina-based investor bought two East Village buildings from Icon Realty Management for $30.9 million, The Real Deal reports.
The buildings: 82 Second Ave. between East Fourth Street and East Fifth Street and 326-328 E. Fourth St. between Avenue C and Avenue D.
According to The Real Deal, the total price is nearly five times what Icon paid just a few years ago. "The Icon deal, which penciled out to more than $1 million per unit, is also further evidence of how quickly prices are escalating."
In November 2010, preservationists and local politicians unsuccessfully lobbied to landmark 326-328 E. Fourth St., the former Uranian Phalanstery and First New York Gnostic Lyceum Temple, an artists’ collective and burial society.
The average price for a rental at No. 328 is $4,845, per Streeteasy.
Previously on EV Grieve:
How's life by 326-328 E. Fourth St. these days?
Historic East Fourth Street artists' collective soon to be condos
Two side-by-side townhouses on East Fourth Street await your renovation
City doesn't give a shit about these historic East Village townhouses