August 08, 2003

A ten-unit residential building at 31 Bethune Street between Greenwich and Washington Street in the West Village was sold for $1.87 million which is 11 times the gross rent roll or $224 a foot for the 8,360 sf on five floors. The property was owned by the same 2 brothers since the 1960s. The new owner, a local investor, will turn the ground floor and basement into a single duplex unit and occupy it as his own residence. Rama Bassalali was the exclusive broker and represented both parties to the transaction.