The Coda and Two Other LES Buildings Sell for $50M


The Coda at 114 Ridge Street (Photo: CoStar).
The Coda at 114 Ridge Street (Photo: CoStar).

The Coda rental building, constructed in 2003, and two other residential rental buildings on the Lower East Side have sold for roughly $50 million, Commercial Observer has learned.

Judah Klausner and Richard Freedman yesterday sold the seven-story, 30-unit Coda at 114 Ridge Street (also known as 110-114 Ridge Street) along with two small loft buildings at 106 Ridge Street (also known as 198 Rivington Street) and 118 Ridge Street, to a mid-sized New York based-development group.

SEE ALSO: Silverstein Properties and Metro Loft Buying 55 Broad Street for $180M

The building at 106 Ridge Street has 20 residential rental units spread over five stories. There are three retail spaces at the base. At 118 Ridge Street, there are nine residential units, mostly two-bedrooms, in the five-story building. All three buildings are between Rivington and Stanton Streets.

Deborah Gutoff and Ronda Rogovin of Eastern Consolidated represented both sides in the deal and Miron PropertiesJeff Schleider, who handles leasing at the buildings, was involved in the sale.

Ms. Gutoff declined to comment and Ms. Rogovin wasn’t immediately reachable. Mr. Schleider declined to comment.