Eastern Consolidated collaborates with PD Properties for $12.82 million sale of 10,050 s/f apartment building on Manhattan's Lower East Side

Manhattan, NY Eastern Consolidated has handled the sale of a 10,050 s/f apartment building at 168 Suffolk St. on the Lower East Side for $12.82 million, which translates to $1,275 per s/f.

Peter Carillo, senior director and principal at Eastern Consolidated, exclusively represented the seller 168 Suffolk St Owners LLC. Elad Dror and Tony Parks of PD Properties LLC represented the buyer, Eunhasu Corp. Jonathan Aghravi, managing director and principal, and Charles Han, associate director, from Eastern Consolidated’s Capital Advisory Division, arranged the buyer’s assumption of the existing mortgage.

“I originally sold this property to 168 Suffolk St Owners LLC for $5 million in 2014, and in a very short time the owner transformed it into a beautiful luxury apartment building following an extensive renovation,” Carillo said. “Working with Eastern’s Retail Leasing Division, I also arranged a long-term lease for Alex Em Fine Art gallery in the property’s ground floor space, which further enhanced the value of the asset.”

In addition to the leased ground floor retail space,168 Suffolk consists of nine, two-bedroom, free-market apartments. The building was gut renovated in 2016 which included a full interior renovation down to the studs, the installation of a new roof, and rear building extension on all floors.

Additional amenities include a shared roof deck with panoramic views, as well as lower level bike and locker storage. Apartment amenities include two bathrooms per unit, individual unit heating and cooling systems, and washers and dryers in every unit.

Located between East Houston and Stanton Sts., 168 Suffolk St. is two blocks from the F, J, M, and Z trains on Delancey St. and the 1.9 million s/f Essex Crossing commercial and residential development.