Roger A. Abi-Zeid pays $8M to Louise Ermelino Cutolo and others for property in Soho

Roger A. Abi-Zeid through the entity 196 Prince St. LLC paid Louise Ermelino Cutolo’s L. Ermelino, LLC $8.0 million for 196 Prince Street in Soho. The deal closed on September 23, 2019, and was recorded on October 3, 2019. The transaction consists of 1 parcel, including the tax class primarily five to six family with store or office (S5) and containing 5 residential units. The property is 7,178 square feet. The parcel(s) have total development potential of 7,178 square feet.
The average sale price per square foot is $1,510.
The estimated cap rate is 3.3%

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