Blackburn Point Realty Capital pays $4.7M for rental in Noho

Blackburn Point Realty Capital through the entity 290 Elizabeth St LLC paid $4.7 million to Robert A. Parisi through the entity Rap Properties, L.L.C. for six-unit rental (C4) at 290 Elizabeth Street in Noho, Manhattan.
The deal closed on July 27, 2021 and was recorded on August 24, 2021.
The property has 6,678 square feet of built space and 6,167 square feet of additional air rights for a total buildable of 12,846 square feet according to PincusCo analysis of city data. The sale price per built square foot is $696 and the price per buildable square foot is $361 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

The signatory for Robert A. Parisi was Robert A. Parisi. The signatory for Blackburn Point Realty Capital was Fred Stoleru.

The former owners according to the Department of Housing Preservation and Development included Frank Parisi, head officer and Roberta Parisi, officer. The business entity is Hprst Dr.Rap Properties Llc.

Within a 400-foot radius of 290 Elizabeth Street, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months.
Of those eight items, five were sales above $5 million totaling $72.1 million. The most recent of the five was 40 Bleecker Phd LLC which bought one condo unit in the 4,094-square-foot, one-unit condo building (R4) on 40 Bleecker Street and one other property for $18.9 million from Broad Street Development on June 21, 2021.
Of those eight items, three were loans above $5 million totaling $111.8 million. The most recent of the three was Vintage Group which borrowed $14.0 million from Signature Bank secured by the 25,480-square-foot, 32-unit rental (D9) on 53 East Houston Street on May 27, 2020.

Direct link to Acris document. link