UBS Realty Investors pays $35M to Craig Wood’s Cape Advisors for property in East Village

UBS Realty Investors through the entity 19-23 St. Marks Place Apartments Owner LLC paid Craig Wood’s Cape Advisors’s 19-23 St. Marks Associates LLC (an other entities) $35 million for 19-23 St Mark’s Place in the East Village. The deal closed on April 23, 2020, and was recorded on April 27, 2020. The transaction consists of 3 parcels, including the tax class two-story or store and office (K2) and containing 41 residential units. The property is 15,851 square feet. The parcel(s) have total development potential of 72,581 square feet.
The sale price per unit is $854,356.

This is one of the first major sales with a contract date after the start of the coronavirus lockdown in mid-March. The contract date is March 27, 2020, according to the transfer documents. However, UBS has had an interest in the property since December. On December 27, 2019, UBS provided a $34 million loan to Cape Advisors and related owners, city records show.

Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $543,025.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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