Samy Mahfar Spent $5.25M to Acquire 113 Stanton Street
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Samy Mahfar is now the proud owner of 113 Stanton Street. And the longtime residents couldn’t be more pissed. As we reported last month, the tenants anticipated the sale and already organized a defense force in anticipation of the likely luxury conversion.
It took a few weeks for the purchase price to go live, though. We now know that Mahfar’s shell corporation Sm Stanton LLC doled $5.25 million for the five-story walkup building.
The math reportedly equates to 20.5 times the current rent roll. Or In broker babble, “tremendous upside.”
Tenants (and Las Venus) should fear what’s next. To that end, we hear that CAAAV, Cooper Square Committee, and Councilwoman Margaret Chin were all notified in advance.