Premier, Stepping Up Development Efforts, Acquires Four Properties For $26M
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Uzi Ben-Abraham and Yaron Jacobi’s Premier Equities is acquiring a 2,860 SF ground-floor retail condo and three NoMad buildings for a total of $26M.
The retail space sits at the base of 259 Bowery (pictured), a six-story mixed-use building on the Lower East Side. Owned by developer Charles Saulson and leased to Soho Contemporary Art gallery until 2020, the space was acquired for $5.5M. Premier’s already developing an eight-story, 24k SF mixed-use tower across the street, The Real Deal reports.
The three buildings, 275 Fifth Ave, 2 East 30th St and 273 Fifth Ave, were acquired from NJ-based Victor Group for $12M, $4.6M and $3.5M, respectively. Victor—which acquired 273 and 275 Fifth Ave from the Jackson Group for $35M in 2015—will retain the properties’ air rights and also owns a 130-unit apartment tower at 281 Fifth Ave.
Premier also co-owns the Hotel Indigo’s vacant 10k SF retail space and is developing a six-story mixed-use building at 134 Wooster St. [TRD]