[Via Stone Street Properties]
Catching up to some news from last week. A package of buildings dubbed "The East Side Elevator Portfolio" has sold for a reported $126.3 million.
The portfolio features four Upper East Side properties as well as 176 E. Third St., a 48-unit building between Avenue A and Avenue B. According to the Commercial Observer, investors Nader and Lisa Shalom bought the East Third Street building. The asking price had been $38.5 million.
The Shaloms become the third landlord in seven years here. Icon Realty paid $14 million for No. 176 in August 2007, according to public records. Accusations of harassment and buyout offers followed in the year ahead. Here's a passage on the situation from an article in the Post from September 2008:
“They want to buy people out and renovate the apartment, and then they want to flip the building,” said Heather Gradowski, who pays less than $700 a month for her one-bedroom apartment.
Icon flipped the building a few years later. You can read a little more about the building's recent history in the link below.
There's no word on what No. 176 fetched this time around.
Previously on EV Grieve:
176 E. Third St. hits the market for $38.5 million