Elliot Sohayegh pays $4.5M for 8-unit rental in Alphabet City

Elliot T. Sohayegh through the entity Nyc 5th St Holdings LLC paid $4.5 million to Philip Cacciatore through the entity 528 East 5th Street LLC for eight-unit rental (C4) at 528 East 5th Street in Alphabet City, Manhattan.
The deal closed on November 22, 2021 and was recorded on December 13, 2021.
The property has 5,340 square feet of built space and 241 square feet of additional air rights for a total buildable of 5,577 square feet according to PincusCo analysis of city data. The sale price per built square foot is $842 and the price per buildable square foot is $806 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 Philip Cacciatore was Philip Cacciatore. The signatory for Elliot T. Sohayegh was Elliot T. Sohayegh.

The former owners according to the Department of Housing Preservation and Development included Philip Cacciatore, joint owner and Josephine Cacciatore, joint owner.
Within a 400-foot radius of 528 East 5th Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on October 8, 2021 for the $843,771 renovation of 6,648-square-foot R-2 building with 15 residential units at 207 East 4th Street.
Of those three items, two were loans above $5 million totaling $59.4 million. The most recent of the two was Abraham Marin which borrowed $14.3 million from Santander Bank secured by the 16,344-square-foot, 24-unit rental (C7) on 536 East 5th Street and one other property on January 30, 2020.

Direct link to Acris document. link