RFR Holding Aby Rosen purchase 33 condo units in Devonshire House. The Cheshire group's Devonshire House building is located in 28th East 10th street and is an apartment regulated condominium. It's neighboring landmarks are University Place and Broadway.
Commercial Observer says that Aby Rosen bought the 33 units for $32.5 million. The transaction has been closed on August 6 based on the records. As of today, the building has 99 units since Susan Hewitt of Cheshire Group had converted the real estate property into a mid-rise condominium in 2010.
If recalled, the property was previously owned by Sterling Equities' Fred Wilpon. Then it was purchased by Cheshire in December 2007 with the amount of $110 million. The renovation and conversion had begun in 2008. According to the report, market price of the Devonshire House condo unit is around $2,000 to $2,450 per square foot.
The first residential units were sold in the market in 2010. In addition to the residential condo units, the ground floor of the building has 8 commercial units that were sold already to Brodsky Organization for $10.35 million.
Now that the project conversion of the place has been completed, the last 33 units have been sold to RFR Holdings.
According to Hewitt, the place has been beautifully converted. It is also a nice place to live because the building is really great. Some of the famous personalities who owned a condo unit in Devonshire House are Amanda Seyfried and Alec Baldwin. However, Alec Baldwin has listed his unit in the converted Greenwich Village for $2.4 million as published in the Real Deal blog.
In a separate report of the Real Deal, Aby Rosen's RFR Holding doesn't not only acquire the 33 units but also some other properties. In July, the firm bought a property in Noho. In addition, the company also is about to buy the "Peace Pentagon" neighborhood for $20 million.
As of press time, RFR through its spokesperson refuses to comment regarding this news.
