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.

114 E. 7th St. sells for $13.8 million

There's a new landlord at 114 E. Seventh St., which has changed hands for $13.8 million. The transaction hit public records on Jan. 10.

The Real Deal reported that the Luthien Group bought the 28-unit rental building between Avenue A and First Avenue from Domek Associates. Per TRD, "half of the units at the five-story building are rent-regulated."

The Luthien Group recently sold 629 East Fifth St. for $16.2 million, as we noted last week. That building between Avenue B and Avenue C features 24 market-rate units.

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