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Gotham Court, Home to Cake Shop, is Sold For $19.1 Million

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149-151 Essex Street.
149-151 Essex Street.

City records show two mixed-use buildings on the Lower East Side were purchased in April by a new firm, known as Four Winds Real Estate, for $19.1 million.  The complex, known as Gotham Court, shares a central courtyard.  It’s made up of a 5-story building at 152 Ludlow St. consisting of a retail space occupied by the music club, Cake Shop, and two duplex apartments.  It backs up to a 7-story structure at 149-151 Essex St. with two ground floor commercial spaces and 20 rental apartments.  The Essex Street storefront was formerly home to the Laugh Lounge and may become a new venue from the team behind Acme and Indochine.

Last year, the property was listed for $21 million.  The sale was first reported in April by the Real Deal, which noted that it is the first deal for Four Winds, a firm created by Joshua Landau and David Schneiderman, although the firm previously “acquired the debt on various properties.”

Gotham Court was developed by real estate agent Barbara Rohregger and attorney Harris Barer in 2002 for $9 million.  Last year, Cake Shop held a successful fundraising campaign to stay in its Ludlow Street home.

 

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