News:
Brokerage
Posted: October 19, 2021
Douglas Elliman’s Stone St. portfolio trades for $16.35 million
New York, NY Douglas Elliman’s Stone St. portfolio at 52 Stone St. and 53-55 Stone St. has traded for a collective price of $16.35 million. The historic retail-and-apartment buildings, owned by Goldman Properties, came to market with Douglas Elliman in November 2020.
52 Stone St., is a four-story, 8,162 s/f building with Stone Street Tavern on the ground floor and three free-market apartments above. Ronan Downs, the owner of Stone Street Tavern, The Dubliner and Beckett’s Bar and Grill, also located on Stone St., purchased the building for $6.25 million.
The other two buildings at 53-55 Stone St., span 14,690 s/f and hold two bars, Underdog and Revolution, along with seven free-market apartments above. Davean Holdings, who also owns properties in the area like 6 Stone St. and 126 Pearl St., purchased the portfolio for $10.1 million.
Marc Palermo of Douglas Elliman and Louis Puopolo of Douglas Elliman Commercial represented the seller in both transactions. Hillel Horovitz of Douglas Elliman Commercial represented the buyer, Davean Holdings for the deal at 53-55 Stone St.
Tags:
Brokerage
MORE FROM Brokerage
Investment Property Realty Group brokers $2.15 million sale of 129 Jackson St. in Williamsburg
Brooklyn, MA Investment Property Realty Group (IPRG) has closed the sale of 129 Jackson St., a multifamily building located in the Williamsburg section of the borough, for $2.15 million.
Columns and Thought Leadership
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
Hunt CRE question and answer: Choosing a real estate agent - by David Hunt
First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary
The art of investing in real estate - by Thomas Donovan
Real estate investing is as much an art as it is a skill. No one can time the market, or the factors that drive it, perfectly. Location, zoning, size, transportation, and neighborhood density give you a baseline for
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
.gif)