SHEL Capital, Bluestone Investments pay $51.5M for 125 walk-up units in East Village

SHEL Capital and Bluestone Investments paid $51.5 million to Adrian Slywotzky for 125 walk-up units in the East Village in four separate buildings. The acquisition was financed by a $33 million loan from Israel Discount Bank of New York.

There were 179 walk-up building sales recorded in the six months from June to November in Manhattan, the most active asset class in the borough by far, with mixed-use coming in second with 87 transactions.

In the first transaction, SHEL Capital and Bluestone Investments through the entity 208 E 6th LLC paid $15.4 million to Adrian Slywotzky through the entity 208-210 Ws LLC for 36-unit rental (C7) at 208 East 6th Street in East Village, Manhattan.
The deal closed on November 19, 2021 and was recorded on December 2, 2021.
The property has 20,182 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $763 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 Adrian Slywotzky was Adrian Slywotzky. The signatory for SHEL Capital and Bluestone Investments was Rony Kravel.

The former owners according to the Department of Housing Preservation and Development included Chrystia Slywotzky, head officer and Adrian Slywotzky, officer. The business entity was 208-210 Ws Llc.

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In the second, SHEL Capital and Bluestone Investments through the entity 200 2 Ave LLC paid $15.3 million to Adrian Slywotzky through the entity 198-200 Ws LLC for 33-unit rental (C7) at 198 2nd Avenue in East Village, Manhattan.
The deal closed on November 19, 2021 and was recorded on December 2, 2021.
The property has 24,747 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $618 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 Adrian Slywotzky was Adrian Slywotzky. The signatory for SHEL Capital and Bluestone Investments was Rony Kravel.

Direct link to Acris document. link

In the third, SHEL Capital and Bluestone Investments through the entity 306 E 5th LLC paid $12.4 million to Adrian Slywotzky through the entity 306-8 Swa LLC for 34-unit rental (C1) at 306 East 5th Street in East Village, Manhattan.
The deal closed on November 19, 2021 and was recorded on December 2, 2021.
The property has 18,444 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $672 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.)

Direct link to Acris document. link

In the fourth, SHEL Capital and Bluestone Investments through the entity 302 E 6th LLC paid $8.4 million to Adrian Slywotzky through the entity 302-4 Swa LLC for 22-unit rental (C7) at 302 East 5th Street in East Village, Manhattan.
The deal closed on November 19, 2021 and was recorded on December 2, 2021.
The property has 16,448 square feet of built space and 41 square feet of additional air rights for a total buildable of 16,476 square feet according to PincusCo analysis of city data. The sale price per built square foot is $510 and the price per buildable square foot is $509 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 Adrian Slywotzky was Adrian Slywotzky. The signatory for SHEL Capital and Bluestone Investments was Rony Kravel.

Direct link to Acris document. link