Ezrattys and Castelli of Eastern close two-building sale: $16.5 million

In a transaction that enables the new owner to convert spacious loft apartments to condominiums, Eastern Consolidated negotiated the $16.5 million sale of 21-23 Peck Slip and 257-261 Water St. in downtown's Financial District to an Italian real estate company. Eastern's Brian Ezratty vice chairman and Martin Ezratty, director, represented the seller, Peck Slip Associates, while Charles Castelli acted on behalf of the purchaser. Rents in the building range from $2,000 to $5,000 per month.Currently the property's lofts consist of 7 studios, 10 one-bedrooms, 3 two-bedrooms. Attorneys in the transaction were Alan Rothschild, Esq., Rothschild & Pearl, LLP for the seller, and Peter Marullo, Esq., Borvina & Marullo PLLC for the seller.