Investor Elliot Sohayegh is in contract to buy four adjacent rental buildings on St. Mark’s Place between Second Avenue and Third Avenue for $44 million, The Real Deal reports.
The walk-up buildings are: 28 St. Mark's Place, 30 St. Mark's Place, 32 St. Mark's Place and 34 St. Mark's Place. The retail tenants in these buildings include Kung Fu Tea (No. 28), the incoming Mamoun's Falafel (No. 30), 2 Bros Pizza (No. 32) and Khyber Pass (No. 34).
Some details, per TRD:
Asking rents for retail on the block are about $250 per square foot. Meanwhile, a market-rate apartment at one of the buildings rents for $3,200 per month on average, according to StreetEasy. About 40 percent of the apartments are market-rate units; the rest are rent-stabilized.
The deal is expected to close in the next couple months, sources said.
The seller is an investor affiliated with the entity St. Marks Assets Inc., which has owned the buildings since the late 1970s, property records show.
The buyer-to-be is planning renovations, sources said
Also on this south side of the block, 34 1/2 St. Mark's Place remains on the market... as does 4 St. Mark's Place, where tenant Trash & Vaudeville is closing Monday ahead of a move to 96 E. Seventh St.