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Article: Greene Street condo conversion candidate sold for $11m.
- Article from:
- Real Estate Weekly
- Article date:
- February 8, 2006
CopyrightCOPYRIGHT 2006 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SoHo is bouncing back, big time, as sought-after properties and development sites are rapidly trading between sellers wanting to capitalize on today's prices, and buyers hoping to maximize investments through conversions, upgrades, tenant turnover, obtaining air rights or demolition.
Itzhaki Properties has just arranged such a proto-typical example, namely the $11.3-million sale of 65 & 67 Greene Street, two adjacent five-story mixed-use buildings, which together consist of 25,000-square feet of apartments combined with street level retail.
Erez Itzhaki, President of Itzhaki Properties acted for the independent seller, Sam Landau, in the transaction, ...