Marx Realty Purchases Two Mixed-Use Properties in Manhattan for $48.5M

NEW YORK CITY — Marx Realty has purchased two mixed-use properties on the Lower East Side of Manhattan for $48.5 million. Located at 135 and 161 Bowery, the two properties include 48,000 square feet of office and retail space combined. Built in 2016, 135 Bowery is an eight-story building that includes street-level retail and office space on floors two through eight. The building is fully leased to a tenant roster that includes visual effects company Lola, creative agency Minds + Assembly, trading technology firm Tradewind and attorneys Martin Liu & Associates. Originally built in 1920 and redeveloped in 2016, the seven-story building at 161 Bowery also includes street-level retail and office space. Tenants at the fully leased building include Warner Music, Kik Interactive, advertising firm Space 150, and educational startup Brainly. Artemis Real Estate Partners was the seller for 135 Bowery, while 161 Bowery was sold by a joint venture in partnership with Ultimate Realty.