Four East Houston Lots Sold for $12.4M

This double lot at 327-329 E. Houston St., listed at $9.5 million, sold for $8.4 million last month, according to city land records.

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.

$9.5M Asking Price For Two Lots, Part of Gottlieb Empire

This double lot at 327-329 E. Houston St. is on the market.

Along the south side of East Houston Street, between Attorney and Ridge streets, bright green grass flanked by graffiti’d walls occupies a big hole in the concrete jungle of storefronts and apartment buildings. The large fenced lot, which measures 50 feet by 100 feet, is part of the portfolio of reclusive real estate baron William Gottlieb and recently came on the market at $9.5 million. Here’s the Misrahi Realty listing, via Loopnet:

Prime Development deal on East Houston. 50 feet of frontage on East Houston. (Additional sq footage available.) 30,000 sq feet usable (additional sq footage possible) … Neighbors include: Schillers, Clinton St Baking Co, Falai, Dessert Truck, Frankie’s Spuntino, Alias,  Rivington Hotel, Ed’s Lobster

City real estate records show that both properties fell into the possession of the city government following foreclosures, but eventually wound up in the hands of Gottlieb, who was legendary for hoarding his estimated $1 billion worth of NYC properties. Gottlieb died in 1999; after a drawn-out legal battle for control of his estate, his nephew Neil Bender is now disposing of many of the empire’s holdings. (Read more about the Gottlieb family drama over at Curbed.)