Four Winds Flips Gotham Court on Ludlow Street for $29.1M

Posted on: June 23rd, 2015 at 5:10 am by
This image has been archived or removed.

Real estate speculation shows little sign of slowing within the confines of Hell Square. But in particular, the residential complex of Gotham Court on Ludlow Street (and Essex). This property just changed hands (again) for the second time in as many years.

Four Winds Real Estate, in partnership with Jonis Realty and investor Martin Newman, purchased the pair of conjoined Lower East Side buildings for $19.1 million back in 2013. A year later, the consortium tried to flip the properties for nearly double, having asked $35 million. That pitch went unanswered. Until this month.

Hubb NYC, a Manhattan-based real estate company, purchased the mixed-use buildings for slightly less than that ask – $29.1 million. The four-year-old Hubb “invests in retail, multifamily, and mixed-use properties” around the city.

And with each transaction, Cake Shop seems more threatened than ever.

Gotham Court is comprised of 152 Ludlow and 149-151 Essex.

Recent Stories

Queens Man Arrested in Connection with Stabbing Death of Grubhub Delivery Worker on LES

Police announced Friday night the arrest of the suspect wanted in connection with the murder of a Grubhub deliveryman last week. Joseph Sandoval, 23, from Jamaica, Queens, was collared Thursday and charged with one count of murder in the stabbing death of Sala Miah. As reported, Miah had taken a post-shift break in Sara D. […]

NYPD Sergeant Injured as High Motorcyle Driver Rams Through Delancey Street Checkpoint

An evasive motorcycle driver, allegedly high on drugs, was arrested Saturday night after striking a female police officer on Delancey Street. The accident transpired at about 10:00pm at a checkpoint in the intersection of Suffolk Street by the Williamsburg Bridge. Police said the officer, a sergeant, attempted to stop the motorcycle while coming off the […]

Lower East Side Residents Sue the City to Stop Outdoor Dining Sheds

A group of New York City residents filed a lawsuit last week attempting to block the Open Restaurants program, initiated during the pandemic, from becoming permanent. The 22 claimants cite quality-of-life concerns with the clogged streetscapes, and allegations that the Department of Transportation – the agency responsible for the street shanties – mishandled its review […]

Police Chase, Shoot at Man Armed with 2 Knives on the Bowery

Police this morning shot at an alleged robbery suspect who resisted arrest and threatened officers with two knives. It began at 8:00am when police received the first call about an emotionally disturbed man who threatened a woman with a glass bottle outside 80 East Third Street, and attempted to steal money. He then fled south […]

The ‘Basic Necessities’ of Broome Street

Six months ago, Basic Necessities became part of Broome Street. Conceived by artist Michelle Repiso, the multimedia project tackles “three individuals and the mechanisms they used to sustain their humanity while incarcerated.” Now, with an Artist Corps Grant, Repiso is taking it one step further with community engagement. Tomorrow, the artist will be crowdsourcing participants’ […]