Cohen and Edelkopf of Itzhaki Properties complete $17.5 million sale

Itzhaki Properties (IPR B&H, Inc.) arranged the sale of 170-172 and 174 East 2nd St. in the borough's East Village. The two contiguous, walk-up, mixed-use buildings, located between Ave. A and Ave. B, Sold for $17.5 million by Itzhaki Properties' Edan Cohen and CEO, Yona Edelkopf. The properties consist of a total of four ground floor retail spaces and 43 apartments (22,700 s/f). The buildings are just a short walk from the J, Z, M, & F subways, NYU and Tompkins Square Park. "The market is strengthening; Investors have a growing interest and are more eager than ever to buy in neighborhoods like the East Village," said Cohen. The East Village attracts many NYU students giving the neighborhood a young vibe with a growing night life while still maintaining the rich historic and artistic culture. Among the former tenants of 170 E 2nd St., was famous writer and poet, Allen Ginsberg, who wrote one of his most noted works, "Kaddish," while residing there. The East Village is appealing to not only a youthful and artistic crowd but to eager investors who want a piece of the "up-and-coming" neighborhood. "The East Village has become a very important and desired market for us and our investors, Itzhaki Properties has been spending a lot of time working in this area," said Yona Edelkopf, managing partner and CEO of Itzhaki Properties, regarding the sale on East 2nd St.