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.


Anonymous said...

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

Anonymous said...

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

Anonymous said...

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.

sophocles said...

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