Bankruptcy Court Approves Sale of 71 Clinton St. For $16 Million

71 Clinton St.

71 Clinton St.
71 Clinton St.

During the summer, we told you that 71 Clinton St. had been sold through a bankruptcy court auction. The deal has now been recorded by the city’s finance department.

The tenement on the northwest corner of Rivington and Clinton streets, has fallen into disrepair in recent years. Two restaurants, San Marzano and Seoul Chicken, were forced to move due to faulty pipes. Now a new owner, Robert Jaffe, is in control of the property.

He paid more than $16 million for the 7-story, 15,000 sq. ft. building. The previous owner, Steven Rosenfeld, filed for bankruptcy in 2011.

According to real estate listings, six residential units at 71 Clinton St. are rent stabilized.