Four-building St. Mark’s Place multifamily portfolio under contract for $44M
28-34 St. Mark’s Place in East Village
Investor Elliot Sohayegh is in contract to buy a package of four adjacent rental buildings
along St. Mark’s Place in the East Village for $44 million, or nearly $760 per square foot,
sources told The Real Deal.
The walk-ups at 28-34 St. Mark’s Place, between Second and Third avenues, collectively
span 58,000 square feet and 80 residential rental units. Each building boasts a ground-
floor retail space, with tenants such as Afghani restaurant Khyber Pass and dollar-slice
pizza chain 2 Bros. In December, Mamoun’s Falafel signed a 10-year lease for 1,400
square feet at 30 St. Mark’s Place — and is relocating from 22 St. Mark’s Place.
Asking rents for retail on the block are about $250 per square foot. Meanwhile, a market-
rate apartment at one of the buildings rents for $3,200 per month on average, according to
StreetEasy. About 40 percent of the apartments are market-rate units; the rest are rent-
stabilized.
The seller is an investor affiliated with the entity St. Marks Assets Inc., which has owned
the buildings since the late 1970s, property records show. Skyline Properties’ Robert
Khodadadi