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

Posted on: June 23rd, 2015 at 5:10 am by
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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.

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