NEW YORK CITY-New York-based Benchmark Real Estate Group has purchased a mixed-use building at 10 Fifth Ave. from a locally-based Italian family for $9.5 million. The seller wanted to sell the five-story building for $11.5 million, but Benchmark Real Estate purchased the property by paying 17% below the asking rate.
The building comprises 14 rental units and 3 retail units. The new owner will start improving the property at the beginning of May. Eastern Consolidated represented both the parties in the deal.For the full story, go to Crain's New York Business.
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