Investment Group Sells Gotham Court in Manhattan for $29.1 Million

NEW YORK CITY — A partnership of two joint ventures that purchased Gotham Court on Manhattan’s Lower East Side for $19.1 million in 2013 has sold the properties to HUBB NYC for $29.1 million. Gotham Court, built in 2004, includes 152 Ludlow St. and 149-151 Essex St. The properties are situated across from the Essex Crossing mixed-use development. 152 Ludlow Street is a five-story walk-up with two duplex rentals and a retail space occupied by the music venue Cake Shop. 149-151 Essex Street is a seven-story elevator building with 20 rental units and two retail spaces. After purchasing the properties in 2013, the sellers renovated a number of apartments and leased a vacant retail space to Tijuana Picnic. The principals of one joint venture include Nathan Halegua and Josh Halegua of Jonis Realty and Martin Newman, an independent real estate investor. The principals of the other joint venture are David Schneiderman and Joshua Landau of Four Winds Real Estate. A JLL team of Glenn Tolchin, Yoav Oelsner, Anthony Ledesma, Jason Gold and Richard Baxter, along with Eric Hoberman of law firm Kriss & Feurstein LLP, represented the partnership in the sale.