Cofounded in New York by Paul and John Salib, Castellan Real Estate Partners provides a host of services spanning the acquisition, development, disposition, and management of distressed and transitional properties. In May 2017, Castellan Real Estate Partners purchased a five-story mixed-use property situated in the center of Tribeca at 90 Chambers Street for $10.7 million.
In addition to 2,175 square feet of retail space on the ground floor, the property includes five residential units, three of which are lofts, with the second, third, and fourth floors having one each. A pair of residential units spans the fifth floor. Moreover, the building has approximately 5,000 square feet of air rights.
With the property described as presenting excellent condominium conversion potential, the heavily trafficked location is one of high demand and limited supply. Recent improvements include a new roof, as well as a renovated and freshly painted facade. Additionally, each unit comes with a washer and dryer and an open kitchen with stainless steel appliances.
