Springhouse pays $55M for Irving Place rental Midtown firm planning extensive renovation of 56-unit property at 51 Irving
Adam Verner’s Springhouse Partners is the new owner of a mixed-use Rental Building On Irving Place near Gramercy Park, having paid longtime owners the Rumpel family $55 million for the property.
The six-story, 50,000-square-foot building at 51 Irving Place, on the corner of East 17th Street, holds 56 rental units, the majority of which are market-rate. The property also has a roughly 10,000-square-foot commercial component holding five retail tenants and one office unit.
“This is a unique opportunity for us to acquire an asset that would be nearly impossible to replicate from a cost and location perspective,” Verner told The Real Deal, adding that there was an opportunity for it to be repositioned to a higher-end asset more in line with its surround上海夜网