150 East Broadway Changes Hands for $4.45M

Posted on: March 21st, 2016 at 10:31 am by
This image has been archived or removed.

​The sale of 150 East Broadway was topic of conversation back in the fall. Residents had reportedly received word that the landlord was cashing out, yet no such transaction was confirmed at the time. However, four months later, the talk turned true.

The initial intel suggested that the landlord was asking if tenants would accept buyouts since new ownership was coming in. While we’re unsure how many stayed or vacated, we now know that the five-story tenement building did in fact change hands. According to public records, Michael Edelman and Parag Sawhney of real estate investment firm Penn South Capital purchased the property last month for $4.45 million.

150 East Broadway represents the second purchase in the area for Penn South Capital behind 215 East Broadway last year ($5.3 million). The latter property is currently undergoing total rehabilitation.

On the ground level, meanwhile, the commercial space of 150 East Broadway is being touted as available. Leasing signage in the window.

Recent Stories

Report: Tenement Museum Workers Unionize

The front-facing staff of the Tenement Museum, after many failed attempts throughout the years, have finally agreed to unionize. A vote was held last week in which all education, retail, and visitor services employees mobilized to join Local 2110 UAW (United Auto Workers). The measure passed by a 96% margin. The vote was spurred by […]

Sunshine Cinema Signage Carted Away

Sunshine, sunset, swiftly goes the demolition. Indeed, no sooner did the sidewalk bridge appear at 141 East Houston Street than workers deposed the Sunshine Cinema neon lettering. We’re told that a van carted the signage away yesterday. Co-owner-developer East End Capital did not return our request about the fate of the letters. Meanwhile, the demolition […]

New Essex Street Market Sets Opening Date at Essex Crossing

Seventy-nine is a momentous age for the Essex Street Market. Now, more than five years in the making, the Lower East Side institution opened by Mayor LaGuardia in 1940 is finally ready to cross Delancey. The date for its opening at Essex Crossing has been set. Mark the calendar for May 18. The Market announced […]

Ready to Win the Weekend? [SPONSOR]

“Let’s meet for drinks” is starting to get lamer than Netflix-and-chill. Amp up your culture factor, impress your date, and maybe even take home great new art at Superfine! Art Fair, opening May 1 with a champagne washed inaugural party in SoHo. Explore three rooms chock full of awesome art by 80+ top-tier emerging artists. […]

He Said, She Said: A Two-City Concert Review of KOLARS

KOLARS is a Los Angeles-based rock duo, formerly of folk outfit He’s My Brother She’s My Sister, and the latest in our “He Said/She Said” music series. They’ve been relentlessly on tour for the past three years (over 400 shows since 2016), and while Passover prevented us from getting to the New York gig, we […]