Rivington House Co-Owner Picks up Pair of Ludlow Tenements for $12.5M

Last week, we learned that the corner tenement at 101 Stanton Street (at Ludlow) changed hands for $12.9 million. It was sold by Arwen Properties/Luthien Group to a small consortium of real estate firms. Now, it appears the company simultaneously cashed out the two adjacent properties on Ludlow Street, too.

While prior rumors of sale proved unfounded, public records currently show that 151-153 Ludlow Street sold last week as a joint lot for the princely sum of $12.5 million. Buyer of record is Slate Property Group, which is reviled this side of the Bowery for its involvement in the Rivington House scandal. (Slate, China Vanke Co., and Adam America Real Estate together purchased the former nursing home for $116 million after the city lifted the deed restriction.)

One of the ruined apartments inside 151 Ludlow St.

Residents state the the following letters were slipped under doors earlier this month. Given what transpired just a few blocks away at 45 Rivington Street, this doesn’t appear as good news for the buildings. Or the block.

TO: All Tenants of 153 Ludlow Street
FROM: New Property Management Company

Please be advised that Effective June 8th, 2017, your building is under the new management supervision of MGT Property Management, LLC.

Rent payments (including any outstanding rent) should be made payable
and mailed to:

Please make rent checks payable to: 153 Ludlow Owner, LLC

Please mail rent checks to:

153 Ludlow Owner, LLC
c/o MGT Property Management, LLC
38 East 29th Street
9th floor
New York, NY 10016
…

Please return attached Tenant Information and W9 forms so we may
update Contact and Security Deposit information, as necessary.

Sincerely,
MGT Property Management, LLC.