Pambar Realty has sold 113 Stanton Street to SMA Equities in an off-market deal for $5.3 million, Commercial Observer has learned.
The buyer, SMA Equities, has recently purchased a number of properties on the Lower East Side and in the East Village. Town declined to reveal the brokers on the buyer side.
The deal closed on Sept. 22, according to property records.
At $744 per square foot, this deal was the highest price per square foot sale in the past eight months on the Lower East Side, Town said.
“We were able to achieve the highest price per square foot in the neighborhood solely for brick and mortar,” Mr. Simone said.
The brokers said the deal moved swiftly.
“We were able to have an accepted offer within three weeks from when the owner agreed to sell the building,” Mr. Simone noted.