Heller Realty Picks up Division Street Walkup for $4.4 Million
The easternmost block of Division Street is heating up. Not just for nightlife but real estate speculation, too.
The five-story walkup at 115 Division Street traded last month for a cool $4.4 million. Public records appear to indicate the buyer as Heller Realty, which is masked behind the 115 LES Realty corporate shell. The firm scooped up the property last month from longtime owner (44 years) Doreen Alderman of Shanghai Realty Corp.
There are eight apartments and two commercial units housed at 115 Division Street. Seven of the residences are one-bedroom and rent stabilized, while the remaining one is a market-rate three-bedroom, two-bath unit. One store is vacant and the other is an Acupuncture office.
This mixed-use nook of Division Street has gradually become a low-key destination over the last few years with several eateries in the fold.