GAIA pays SMA Equities $34.75M for three Lower East Side walkups
102 Norfolk Street (Credit - Google)
GAIA Real Estate Holdings through the entities 99 Allen Owner LLC, Ludlow Street Owner LLC and 102 Norfolk Owner LLC, paid $34.75 million in three separate transactions to SMA Equities for the three Lower East Side walkup buildings, 99 Allen Street, 177 Ludlow Street and 102 Norfolk Street. The sales closed on May 25, 2022, and were recorded on June 13, 2022.
The package includes a total of 56 residential units and five retail units and was financed with a $24.325 million loan from Bank of America.
The signatory for GAIA was Daniel Fishman and the signatory for Samy Mahfar’s SMA Equities was attorney Edward J. Bullard Jr. The signatory for Bank of America was Robert Fenstemaker.
The New York Business Journal first reported on the sale last month.
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