Wednesday, January 17, 2018

Report: 186-188 First Ave. changes hands for $14-plus million



There's a new owner for 186-188 First Ave., a pair of 5-story walk-ups between 11th Street and 12th Street.

News of the all-cash transaction earlier this month was posted in a piece at The New York Times yesterday:

Hubb NYC, described as a local investor, bought the buildings from Allen Park, who owned the properties since 1980, for $14.25 million.

Per the Times:

They offer 16 two-bedroom apartments, which are mostly free-market, as well as three retail spaces occupied by a computer store, Handsome Dan’s candy shop and Uogashi, a Japanese restaurant. Air rights come to about 5,000 square feet.
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4 comments:

  1. AnonymousJanuary 17, 2018 at 10:15 AM

    14 million in "all-cash"??? That must have been a couple of bulging backpacks, at least.

    ReplyDelete
  2. AnonymousJanuary 17, 2018 at 11:48 AM

    Ha, 10:15, I always thought that, but all cash means no financing/mortgage is involved. Just one check with lots of digits.

    ReplyDelete
  3. AnonymousJanuary 17, 2018 at 10:19 PM

    And all cash does not mean there is no financing. There usually is financing. All cash just means that this deal does not depend if a bank will approve financing.

    ReplyDelete
  4. sophoclesJanuary 18, 2018 at 7:57 AM

    What kind of two bedrooms do those railroad flat apartments have? Two bedrooms without a living room?

    ReplyDelete

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