Michael Ferrara, Managing Principal of Manhattan based Investment Sales brokerage firm Brax Realty is pleased to announce the sale of a two-building package consisting of +/- 10,400 SF in the South Street Seaport. The properties, 112 -113 South Street located between Peck Slip and Beekman Street sold for $4,000,000. Ferrara exclusively represented the seller, the Fogliano Family and also procured the buyer, a private investor on this transaction.
Laid out by 1810, South Street was created on landfill, which extended the boundary of lower Manhattan further east. Famously known as the “street of ships,” South Street was once filled with captains and cargo of ships landing at the nearby piers and up until 2005 was home to the fish market until it moved to Hunts Point. The properties , which were held in the same family since 1970 were original constructed sometime around 1819 and were delivered 100% vacant at closing. The properties are located in a prime area of the seaport directly across the street from Howard Hughes Corporation’s redevelopment of Pier 17, The Tin Building and The New Market Building and just two blocks south of their anticipated 250 Water development site.