Bluestar buys 68-unit East Village portfolio

Bluestar Properties has purchased three East Village buildings for $18 million.

Owned by the same family for over 60 years, the three pre-war walkups contain 68 residential units and are located at 331-333 East 5th Street and 429 East 6th Street.

“With a majority of preferential rents, new ownership intends to improve the property to capture the growth that the East Village has experienced in recent years,” according to Jeff Pikus, principal at Bluestar.

The buyer was represented by David Meyrowitz of Simon Meyrowitz & Meyrowitz PC, while the sell was represented by Robert Moore, of Peluso & Touger, LLP.

Leave a Reply

Your email address will not be published. Required fields are marked *

COPYRIGHT 2015 REAL ESTATE WEEKLY. ALL RIGHTS RESERVED.