Family sells 8 East Village buildings for $38 million after decades of ownership

Eight East Village pre-war apartment buildings owned by the same family since the 1960s have sold for $38 million, per a press release and published reports. 

The Eis family reportedly owned the portfolio, which totals 82,245 square feet and includes 99 apartments and nine retail units. Three separate buyers picked up a handful of the properties. 

Per the press release and the Commercial Observer, the buildings are: 

• 105-109 First Ave. between Sixth Street and Seventh Street (pictured above — Mister Paradise, Huertas and Sammy's Halal*) ... sold for $13 million to Lawrence Movtady. 

• 110 East First St. at Houston (across from Katz's) ... sold for $7 million to Alfred Sabetfard of the Sabet Group.  

• 58 and 60-62 Second Ave. between Third Street and Fourth Street ... sold for $11.8 million to Alfred Sabetfard of the Sabet Group. 

• 425 E. Sixth St. between Avenue A and First Avenue ... sold for $3 million to Son Dinh Tran. 

• 543 E. Sixth St. between Avenue A and Avenue B... sold for $3.2 million to Tran.

* Sammy's Halal seems to be a permanent shutter now at 109 First Ave.

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.

Image via Google Street View