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Deals & Dealmakers

Stone Street portfolio trades for $16M

The so-called Stone Street portfolio has traded for $16.35 million.

Douglas Elliman announced the properties at 52 and 53-55 Stone Street traded in two separate deals.

Ronan Downs, owner of Stone Street Tavern, The Dubliner and Beckett’s Bar and Grill, also located on Stone Street, purchased 52 Stones Street for $6,250,000.

The four-story, 8,162 s/f building has Stone Street Tavern on the ground floor and three free-market apartments above.

 Davean Holdings, which also owns properties in the area, including 6 Stone Street and 126 Pearl Street, bought the other two buildings at 53-55 Stone Street. The property spans 14,690 s/f and is home to two bars, Underdog and Revolution, along with seven free-market apartments above. Davean purchased the package for $10,100,000.

Goldman Properties was the seller. Marc Palermo and Louis Puopolo of Douglas Elliman Commercial represented the seller in both transactions. Hillel Horovitz of Douglas Elliman Commercial represented Davean Holdings.

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