Marolda Sells 144-150 Ludlow St. for $24 Million, Twice What It Paid Two Years Ago

144-150 ludlow st

A Swedish firm, Akelius Real Estate Management, has picked up 144-150 Ludlow St. for $24 million. According to the Real Deal, the 52-unit affordable housing complex near Stanton Street was sold by Marolda Properties. Marolda, one of the city’s more notorious landlords purchased the combined buildings for just shy of $12 million a couple of years ago. The new owner wants to keep the property for about a decade, executive Kunal Chothani telling the industry publication, “We’re going to do everything we can to be good property managers.” It’s the company’s first Manhattan acquisition. Marolda faces a state investigation for allegedly forcing rent regulated tenants out of their Chinatown apartments.