NEW YORK—A local investor has paid $4.5 million for 109 Madison Street in Manhattan, a six-story walk-up apartment building that contains 22 apartment units and two retail spaces. Jeremy Curtin, an associate at GFI Realty Services Inc., represented the seller, Harling Chan. Roni Abudi, a managing director at GFI Realty Services Inc., represented the buyer.

Totaling 9,480 sq. ft., 109 Madison Street is located in southeast Chinatown, situated between the Manhattan and Brooklyn Bridges. The property is in close proximity to galleries, restaurants and boutiques in the nearby Lower East Side.

“The buyer saw an opportunity to capitalize on the influx of students and young professionals moving into Chinatown,” says Roni Abudi. “He looks forward to this property being a long term investment.”