Steve Croman’s sons find path in real estate
The sons of landlord Steve Croman are all grown up. Jake and Adam Croman have gotten into the real estate business and are following in their father’s footsteps by buying Manhattan multifamily, often partnering with fashion scion Jeremey Tahari. The Croman brothers’ most recent buy was a Chinatown five-story, 118 Mulberry Street, for $2.28 million. About half of units in the building are rent-stabilized, making it a curious bet when the city has capped rents in those units. But commercial rents in Manhattan are still growing, which can buoy revenue. The commercial unit on the ground floor is currently occupied […]
This article originally appeared on The Real Deal. Click here to read the full story.
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