Eagle Rock Properties flips retail condo in East Village for $2.3M gain

Anjali Khosla through the entity Khosla 351 Bowery New York NY, LLC paid Mark Seelig’s Eagle Rock Properties’s Eagle Rock Retail II A LLC $6.9 million for the retail condominium unit in 351 Bowery at 52 East 4th Street in East Village. The deal closed on January 28, 2020, and was recorded on February 10, 2020. The transaction consists of 1 parcel, including the tax class commercial condominium unit (R5). The property is 2,264 square feet. The parcel(s) have total development potential of 2,264 square feet.
The average sale price per square foot is $3,054.

Eagle Rock flipped the retail condo in three months for a 50 percent gain, or a $2.3 million price increase. The last time the property sold was October 23, 2019, when Harry Kotowitz’s HK Organization sold it for $4.6 million to Eagle Rock Properties. Less than a month later, on November 19, Eagle Rock put the unit in contract to Khosla, and the sale closed January 28, for $6.9 million.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 14 residential (or hotel) units on August 20, 2012.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link