Ludlow Street Walkup Sells for $21.5M

Posted on: June 13th, 2019 at 5:00 am by

Photo: Google Maps

A six-story Ludlow Street walkup in the heart of Hell Square just changed hands.

The twin tenements comprising 122-124 Ludlow sold last month for $21.5 million. Landlord Alan Luke cashed out after holding onto the property since the 1980s. Guess the time was ripe.

There are forty apartments onsite, where a one-bedroom costs $3,000 and a three-bedroom $5,500. Four commercial tenants round out the tenant roll – Caffe Vita, Ramen Ishida, 375 Degrees, and Cocoro Salon.

Buyer of record is Abraham Sanieoff, who, according to the New York Times, married into the family that ran the Sabet Group, a developer with a history of deregulating apartments (e.g. 25 Grove Street). He also made news last year, when his broker-lover leveled a lawsuit against his wife for threatening her well-being.

[h/t The Real Deal]

Recent Stories

LES School Again Raising Money to Buy Thanksgiving Turkeys for its Students in Need

For the second year in a row, the folks at P.S. 140 Nathan Straus School are giving back to the community this Thanksgiving. This time, the PTA is doubling down, aiming to donate 200 turkeys to students and their families in need for the upcoming holiday. So far, $540 of the $4,000 goal has been […]

‘Country Of’ Boutique Delivers Vintage Ephemera to Essex Street

Retail veterans of the Hester Fair continue to pollinate vacant storefronts on the other side of the street. Two in just the last few weeks, in fact. Partybus Bakeshop soft-opened on Tuesday. Down the block, Country Of also joins the fray. Country Of is a small pop-vintage boutique which took over the short-lived Cafe Grumpy […]

At the New Metro Acres on Clinton Street, Traces of a Long Lost Supermarket

Back in June, news dropped that Fine Fare would cease operations at 175 Clinton Street, and that City Acres Market was opening. Now, the transition to the locals-branded Metro Acres is nearly complete. Change abounds inside the supermarket where everything is getting a tune-up, from aisles and signage, to the product itself. Notably, though, workers […]

Construction Resumes at 139 Bowery, Awaiting 14-Story Payload

There is finally construction activity to report at the 139-141 Bowery development site. The spot has been largely dormant ever since the double-wide walk-ups were summarily razed three years ago. With the area now buzzing, the march toward a fourteen-story future continues. Plans to redevelop the properties, in one form or another, date back to […]

Partybus Bakeshop Soft Opens on Essex Street

The Partybus is parked on Essex Street and now serving. The new bakeshop – situated directly across from Seward Park – soft opened to the public yesterday. Founded by baker Jacqueline Russo Eng, Partybus Bakeshop got its start in the nearby Hester Fair before going brick-and-mortar at 31 Essex. It offers a “rotating seasonal menu […]