Stanton Street Corner Tenement Sells for $12.9M
The hulking tenement anchoring the southwest corner of Ludlow and Stanton Streets just sold for $12.9 million.
A small consortium of real estate firms – Penn South Capital, Conway Capital and Rudd Realty Management – picked up 101-103 Stanton. Seller of record was 101 Owners Corp., which acquired the building in 2004 for $2.7 million.
The new ownership group will reportedly “renovate the vacant apartments as well as secure new tenants for one of the most exciting retail plays in the Lower East Side,” according to an email received from Penn South.
There are 14 apartments inside 101 Stanton Street (aka 159 Ludlow). Ten of the total are market-rate vacancies, with the balance being rent regulated. The ground-floor retail space is 2,200 square feet with tenants Prema Hair and the Ma Non Troppo women’s boutique.
The property is somewhat hexed, though. Six years ago, a woman was murdered inside the apartment of her then-boyfriend, Miguel Peña. The 49-year-old victim, Felicia Cruz, a home attendant by trade, was reported missing for a few days, prompting the authorities to knock on the boyfriend’s door. Cops discovered her lifeless body, gruesomely wrapped in plastic. Days later, Peña, 58, was arrested and charged with second-degree murder. It later came out that they were dating five months, and he reportedly became extremely jealous of her; he had been trying to convice her to move with him to Florida.