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Deals & Dealmakers

Sabet Group buys East Village walk-up for $8.3M

Residential landlord Sabet Group has just acquired a 20-unit walk-up in the East Village.

Photo via StreetEasy
Photo via StreetEasy

The property, with the address 61 East 7th Street, is a five-story building that sits between First and Second Avenue. Sabet purchased the property in an $8.3 million deal. The seller was the Zimmerman Family Trust.

“It was a pleasure working with the seller, Zimmerman Family Trust, the buyer, Sabet Management… on the sale of this beautiful, historic building in one of Manhattan’s most vibrant neighborhoods,” said David Schechtman, who led a Meridian Capital Group team that represented the buyer.

The building contains 18 one-bedroom apartments and two two-bedroom apartments. The average rent in the building is $2,100 per month.

Sabet Group owns residential buildings in Greenwich Village and Chelsea. Last month, it acquired 321 West 11th Street, a five-story, 20-unit residential building in the West Village, for $11.6 million. It also owns 92-94 Second Avenue in the East Village and 264-266 West 25th Street in Chelsea.

Meridian Capital’s Schechtman, Adam Sprung and Abie Kassin represented the buyer. Meanwhile, ABS’ Steve Hornstock and Randy Modell represented the seller.

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