Ludlow Street Walkup Sells for $21.5M
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]