RKF arranged the $15.75 million sale of an 11,000 s/f retail condo located at 250 Bowery.
A team from RKF that included RKF Investment Sales & Advisory Services president Jeff Fishman, senior director Brian Segall and senior analyst Jonathan Butwin represented both the seller, 250 VE LLC, and the buyer, 250 Bowery Star LLC, an affiliate of developer David Edelstein’s Tristar Capital, on this transaction.
David J. Furman of the New York office of Gibson, Dunn & Crutcher provided legal counsel to the buyer.
RKF also has been retained by the new owner to serve as the exclusive leasing agent for the property. The RKF leasing team consists of chairman & CEO Robert K. Futterman, vice president Beth Rosen and associate Michael Yohai.
Located on the west block between East Houston and Prince Streets, 250 Bowery features 6,600 s/f of retail space on the ground floor with an additional 4,400 s/f on a lower level.
“The Bowery vibe has been building for several years now thanks to an eclectic mix of restaurants, hotels and stores that now call the Bowery home,” said the new owner of 250 Bowery, David Edelstein, president of Tristar Capital.
“My partners and I are thrilled to have seized an opportunity to own one of the finest properties located in the very heart of the Bowery. We’re also excited to play a more active role in the ongoing transformation of this trendy district.”