JGK Real Estate Sells SoHo Residential Building for $23M

A prewar walk-up apartment building in Manhattan’s SoHo neighborhood has sold for $23.4 million, according to property records made public Monday.

Ben ​​Benedetto Kahlun’s JGK Real Estate Holdings sold 280 Mulberry Street to a shell corporation under the name JP Real Estate Group Limited, which seems to be partnering with Brooklyn-based property management firm Arya Management, according to property records.

Arya Management and JGK Real Estate Holdings did not respond to requests for comment, while the beneficial owners behind the buyer’s entity could not be reached for comment.

Located midblock between Houston and Prince streets, 280 Mulberry is a narrow six-story building with ground-floor retail space currently leased by Japanese hair salon Nagihair.

Kahlun bought the property about a year ago from a private investor named Michael Daniel for $14 million, according to Traded and property records.

Whoever is behind JP Real Estate Group, which uses slightly different LLCs for different acquisitions, has been on an acquisition spree for the last year.

In September, it purchased 18 East 13th Street and the neighboring five-story property at 20 East 13th Street from Penn South Capital for $24.9 million.

Then in January, it bought a five-story, 15-unit residential walkup at 1057-1059 Lexington Avenue in Lenox Hill from Rudd Realty Management for $23.6 million, filing its mailing address under law firm Belkin Burden Goldman.

In early February, it closed a deal on the $25.75 million purchase of 450 West 19th Street and 446 West 19th Street from Icon Realty Management.

Mark Hallum can be reached at mhallum@commercialobserver.com.