Four East Houston Lots Sold for $12.4M
A large chunk of land on the Lower East Side is in the hands of new owners, who paid a total of $12.4 million for four properties along East Houston and Ridge streets last month, according to city land records.
In two separate transactions filed this morning, East Houston Development LLC, a corporate entity with an address on Sixth Avenue, purchased two vacant lots at 327 and 329 E. Houston St. for $8.4 million, as well as two adjoining parcels at 331 E. Houston and 163 Ridge St. for another $4 million.
As we reported late last year, the two vacant lots at 327-329 E. Houston St. are part of the enormous New York City real estate portfolio amassed by the late William Gottlieb, which his heirs have been gradually dismantling. The lots, which measure a total of 50 feet of road frontage and run 100 feet deep, came on the market last fall at $9.5 million.
The new buyer acquired the two smaller lots from seller Michael Albano of East Atlantic Beach. The larger of the two, 331 E. Houston, adds another 25 feet of road frontage and runs 80 feet deep. It is occupied by an apartment building. The lot at 163 Ridge St., which is vacant, measures 20 feet wide and 50 feet deep.