By Roland Li
Benchmark Real Estate Group, LLC has closed on the purchase of a mixed-use building at 10 Fifth Avenue for $9.21 million, according to city records.
The building has 14 rental apartments and three retail spaces. The bakery Le Pain Quotidien is a commercial tenant, and Benchmark is seeking to lease the other two spaces.
“It’s questionable in our careers if we’ll ever find another elevator building on Fifth Avenue,” said Aaron Feldman, a principal of Benchmark, which targets multifamily buildings in Greenwich Village.
The five-story building, at the corner of 8th Street, has a mix of rent stabilized and market rate units. According to PropertyShark, the residential portion of the building is 10,648 s/f, while the retail portion is 2,000 s/f.
Manieri Group LLC was the seller, whom Feldman described as a retired long-term owner from Italy. The building had an asking price of $11.5 million.
Inbal Himelblau of Eastern Consolidated represented the Benchmark in the deal. Aliza Avital, a director, and Nancy Tran, an associate director, both of Eastern Consolidated, were the listing brokers.