Toledano, who has been accused of allegedly harassing his tenants and other predatory practices, bought a 16-building portfolio last September from the Tabak family for $97 million.
Per The Real Deal:
To acquire the portfolio, Toledano took out two mortgages from Madison Realty Capital totaling $124 million for the acquisition as well as planned renovations. The mortgages were an example of multiple financings that led experienced real estate players to describe Toledano as overleveraged.
The six walk-ups – which include 27 St. Mark’s Place and 66 E. Seventh St. – are expected to fetch north of $50 million, sources say. (The article doesn't list the other four buildings.)
No. 27 was home to The Sock Man before a rent hike forced him to close at this location. No. 66 was home to Barbara Feinman Millinery, which also had to relocate.
However, as The Real Deal notes, the landlord isn't giving up on the neighborhood:
Toledano is in the process of buying 11 East Village buildings for a combined $43 million — also from the Tabaks.
Previously on EV Grieve:
Claim: Landlord of 444 E. 13th St. threatened 'to drop dynamite on the building'
Report: Residents at 444 E. 13th St. will receive a $1 million settlement over claims of harassment by Raphael Toledano
Report: State investigating East Village landlord Raphael Toledano
Health Department to inspect Raphael Toledano's East Village properties for toxic levels of lead dust